In cooperation with Sequoia Capital, Legend Capital plans to inject tens of millions of dollars of venture capital to China's Universal Education Group.

This is the first time that Legend Capital has made an investment in the education sector of China since its foundation seven years ago.

Liu Erhai, managing director of Legend Capital, has told local media that China has a big market for non-government run education, and UEG has great market potential as a non-government educational institution.

With 23 provincially direct-run companies, UTE is a high-end education and consulting service provider in China.