Bill Boyu Ning is the Founding Partner of Blue Elephant Capital, the first edtech-focused venture capital fund in China. See sector focus and contact routes.
Bill Boyu Ning is the Founding Partner of Blue Elephant Capital, the first edtech-focused venture capital fund in China, which he launched in 2015. His investment thesis targets early-stage edtech startups across China, focusing on three sectors: education consumption upgrade, education efficacy and equality through digitalization, and industry solutions for education companies. The firm typically invests at the angel to early stage, with Ning noting a portfolio survival rate of 95% and 65% of companies securing follow-on financing. While specific check sizes are not publicly disclosed, Blue Elephant has invested in 75 to 84 edtech startups since its inception. Notable portfolio companies are not explicitly named in available sources, though the fund has backed numerous startups that later received subsequent rounds. Ning’s distinctive viewpoint emphasizes that K-12 after-school tutoring was China’s largest edtech market over the past decade, and he advocates for AI-driven education products like AI math and drawing classes as emerging trends. He brings 15 years of education industry experience, having held key management roles at TAL and New Oriental, th
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