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ED TECH IN ASIA:
KEY TRENDS
Allison Baum,18 June 2015	
  
INTRODUCTION
WHY BE HERE?
“We’re here to put a
dent in the universe.
Otherwise, why be
here?”
- Steve Jobs
Early stage venture investors supporting
exceptional entrepreneurs to build remarkable
businesses
WHO WE ARE
Allison	
  Baum,	
  Managing	
  Director,	
  Tokyo,	
  Japan	
  
Ø  Experience	
  in	
  educa3on	
  opera3ons	...
WHY EARLY STAGE?
RETURNS
ü  Target returns 30% IRR / 5x TVPI multiple
ü  Current portfolio on track to exceed targets
AC...
THE NEXT FRONTIER
2015 1800
THE RISE OF ED TECH
0	
  
500	
  
1,000	
  
1,500	
  
2,000	
  
2,500	
  
2010	
   2011	
   2012	
   2013	
   2014	
  
Mil...
THE RISE OF ED TECH
HIGH PROFILE EXITS
0	
  
10	
  
20	
  
30	
  
40	
  
50	
  
60	
  
70	
  
80	
  
90	
  
100	
  
2011	
   2012	
   2013	
  ...
ü  75% capital invested into edtech in 2014
was U.S.
ü  9/10 largest financings in U.S.
ü  60 million K-12 students
ü  ...
ASIA IS NEXT
US$59.90bn: Size
of global ed tech
market by 201816
600 million: K-12 students in Asia
5 years: Time until As...
DEVELOPING ECOSYSTEMS
ü  People
ü  Connectivity
ü  Capital
GRASS IS GREENER
LOCAL CHALLENGES
ü  Localization
ü  Business Model
ü  Language
ü  Culture
ü  Values
ü  Timing
ü  B2C business models
ü  Mobile
ü  Language Learning
ü  Exits
KEY OPPORTUNITIES IN ASIA
#1: B2C IN ASIA
ü  600 million K-12
students
ü  40% income spent on
education
ü  60-96% of secondary
school students
re...
#2: MOBILE IN ASIA
ü  APAC = 57.7% of the world’s
mobile phones
ü  80% of internet users in China
access via the mobile/...
#3: LANGUAGE LEARNING
ü  300 million people
learning English in
China
ü  30% of foreign students
studying in U.S.are
fro...
ü  EducationTravel = US$80 billion / year
ü  Language Education= US$12 billion /year
ü  80% students sent by agents
ü  Mobile
ü  Publishing/Media
ü  Tech/ Gaming
ü  Education
ü  IPO
#4: EXITS
CROSS BORDER ACTIVITY
ü  Global solutions
ü  Local implementations
ü  Cross-border collaboration
ü  Global, specialized investors
WHAT’S MIS...
GLOBAL CHALLENGES
ACCESS EFFICIENCY
ENGAGEMENT OUTCOMES
ü  Limited
ü  Quality vs.
scalability
ü  High fixed costs
ü  No...
GLOBAL SOLUTIONS
ACCESS EFFICIENCY
ENGAGEMENT OUTCOMES
WHERE FRESCO FITS IN
ü  Bridging the gap
ü  Investing in scalable solutions
ü  Dedication to sector
ü  Early stage Cap...
HOW WE DO IT
“If you want to build a ship, don’t drum up the men to
gather wood, divide the work, and give orders. Instead,
teach them ...
GET INVOLVED
“The people that are
crazy enough to think
they can change the
world are the ones
that do.”
- Steve Jobs
KEEP IN TOUCH
ü  www.fresco.vc
ü  allison@fresco.vc
ü  @allison_baum
Ed Tech in Asia: Key Trends and Opportunities
Ed Tech in Asia: Key Trends and Opportunities
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Ed Tech in Asia: Key Trends and Opportunities

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What are the key dynamics, trends, and opportunities for education technology in Asia? From consumer, to mobile, to language learning, Asia is one of the most exciting places in the world to be an education investor, entrepreneur, or stakeholder. Here are slides from my recent keynote at New Zealand's Edtech for Export conference.

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Ed Tech in Asia: Key Trends and Opportunities

  1. 1. ED TECH IN ASIA: KEY TRENDS Allison Baum,18 June 2015  
  2. 2. INTRODUCTION
  3. 3. WHY BE HERE? “We’re here to put a dent in the universe. Otherwise, why be here?” - Steve Jobs
  4. 4. Early stage venture investors supporting exceptional entrepreneurs to build remarkable businesses
  5. 5. WHO WE ARE Allison  Baum,  Managing  Director,  Tokyo,  Japan   Ø  Experience  in  educa3on  opera3ons  management  including:  curriculum  development,  marke3ng,   teacher  training,  real  estate  expansion,  hiring,  and  business  development   Ø  Bootstrapped  and  launched  educa3on  business  in  Asia,  scaled  to  US$1mm  revenue  run  rate,   2,000+  students,  60  teachers,  6  employees  in  nine  months   Ø  Ins3tu3onal  sales  and  trading  at  Goldman  Sachs,  8  years  investment  experience  in  public  and   private  markets     Tytus  Michalski,  Managing  Director,  Hong  Kong  SAR,  China   Ø  16  years  in  cross-­‐border  investment  experience  across  Hong  Kong,  Singapore,  Tokyo,  London,   Canada,  and  the  United  States   Ø  Previously  Chief  investment  Officer  of  PMA  Investment  Advisors,  where  he  managed  both   regional  funds  and  the  equity  team   Ø  Founding  member  of  PMA,  scaled  from  US$600mln  to  US$3bln  in  ins3tu3onal  AUM  and  sold  in   2006  for  US$200mln     Stephen  Forte,  Managing  Director,  Menlo  Park,  CA,  USA   Ø  Tech  Strategy  at  Telerik,  US$260mln  exit   Ø  Experienced  entrepreneur  with  5  successful  exits   Ø  Mentor  at  Thiel  Founda3on,  ChinaAccelerator,  HAXLR8R   Ø  Founder  of  Mach5,  a  Silicon  Valley  based  startup  accelerator  and  co-­‐founder  of  AcceleratorHK,   Hong  Kong’s  first  startup  accelerator  
  6. 6. WHY EARLY STAGE? RETURNS ü  Target returns 30% IRR / 5x TVPI multiple ü  Current portfolio on track to exceed targets ACCESS ü  Diverse network of deals & people ü  Over 300 co-investors around the world INNOVATION ü  Cutting edge technology, teams, businesses
  7. 7. THE NEXT FRONTIER
  8. 8. 2015 1800
  9. 9. THE RISE OF ED TECH 0   500   1,000   1,500   2,000   2,500   2010   2011   2012   2013   2014   Millions   Private  Investment  in  Learning  Technology   Companies  (US$  Millions)  
  10. 10. THE RISE OF ED TECH
  11. 11. HIGH PROFILE EXITS 0   10   20   30   40   50   60   70   80   90   100   2011   2012   2013   2014  (est)   #  Deals   EdTech Exits +200% in 2014 IPO   M&A  
  12. 12. ü  75% capital invested into edtech in 2014 was U.S. ü  9/10 largest financings in U.S. ü  60 million K-12 students ü  96% of K-12 students in the world are outside of the U.S. USA HAS LED THE WAY
  13. 13. ASIA IS NEXT US$59.90bn: Size of global ed tech market by 201816 600 million: K-12 students in Asia 5 years: Time until Asia is the largest regional market 16     300 million:   People learning English in China   195 million: College graduates in China by 2020   40% income spent on education  
  14. 14. DEVELOPING ECOSYSTEMS ü  People ü  Connectivity ü  Capital
  15. 15. GRASS IS GREENER
  16. 16. LOCAL CHALLENGES ü  Localization ü  Business Model ü  Language ü  Culture ü  Values ü  Timing
  17. 17. ü  B2C business models ü  Mobile ü  Language Learning ü  Exits KEY OPPORTUNITIES IN ASIA
  18. 18. #1: B2C IN ASIA ü  600 million K-12 students ü  40% income spent on education ü  60-96% of secondary school students receive outside tutoring
  19. 19. #2: MOBILE IN ASIA ü  APAC = 57.7% of the world’s mobile phones ü  80% of internet users in China access via the mobile/tablet ü  Highest % mobile payment users in the world
  20. 20. #3: LANGUAGE LEARNING ü  300 million people learning English in China ü  30% of foreign students studying in U.S.are from China ü  English skills correlate with 30-50% higher income
  21. 21. ü  EducationTravel = US$80 billion / year ü  Language Education= US$12 billion /year ü  80% students sent by agents
  22. 22. ü  Mobile ü  Publishing/Media ü  Tech/ Gaming ü  Education ü  IPO #4: EXITS
  23. 23. CROSS BORDER ACTIVITY
  24. 24. ü  Global solutions ü  Local implementations ü  Cross-border collaboration ü  Global, specialized investors WHAT’S MISSING?
  25. 25. GLOBAL CHALLENGES ACCESS EFFICIENCY ENGAGEMENT OUTCOMES ü  Limited ü  Quality vs. scalability ü  High fixed costs ü  No infrastructure ü  Differentiated learning ü  Motivation ü  Assessment ü  Relevancy
  26. 26. GLOBAL SOLUTIONS ACCESS EFFICIENCY ENGAGEMENT OUTCOMES
  27. 27. WHERE FRESCO FITS IN ü  Bridging the gap ü  Investing in scalable solutions ü  Dedication to sector ü  Early stage Capital ü  People first
  28. 28. HOW WE DO IT
  29. 29. “If you want to build a ship, don’t drum up the men to gather wood, divide the work, and give orders. Instead, teach them to yearn for the vast and endless sea.” ― Antoine de Saint-Exupéry
  30. 30. GET INVOLVED “The people that are crazy enough to think they can change the world are the ones that do.” - Steve Jobs
  31. 31. KEEP IN TOUCH ü  www.fresco.vc ü  allison@fresco.vc ü  @allison_baum

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