Benefit news，September 14-15, 2017，The Third China Camp Education Conference hosted by the China Camp Education Alliance,CCEA)】held in Beidaihe, Qinhuangdao，This conference gathered capital、Real Estate、Travel、Thousands of people from the media and others who are dedicated to camp education attended。

In the parallel workshop of [Entrepreneurship and Capital] on the afternoon of the 14th，Founding Partner of Geometry Investment、Former Vice President of Jiuding Investment、Managing Director、Qian Pengfei, head of the investment system, shared "Education Investment and Financing Opportunities and Strategies"，In December 2016, Geometry Capital participated in the Pre-A round of investment in Qingqing Tribe, which was split and developed independently by Century Mingde，After sharing the topic, Zhihui interviewed Qian Pengfei。

188bet app

188bet app Qian Pengfei said，Geometry Investment’s main educational investment directions focus on three aspects: modern vocational education、Technology changes education、Education Upgrade。From the perspective of tourism education，The first two categories belong to the pure education industry，Education upgrade is a cross-border part under “Education+”，The proportion of services in this part of products is higher than the first two categories，This also gives it unique characteristics。Qian Pengfei pointed out，From a capital perspective，The camp education industry is an industry with diseconomies of scale，Has the characteristics of low concentration，Therefore, there will not be a situation where one company dominates the world，But to a certain extent, it reaches a larger scale。Chairman of China Camp Education Alliance，Chairman of Century Mingde、Wang Xuehui, founder of Qingqing Tribe, thinks the same，The camp education market will present a spindle-shaped market pattern with two large ends and a small one in the middle in the future，Giants and small but beautiful companies occupy both ends。

Qian Pengfei’s expression on Zhihui，Although the camp education industry has the characteristics of diseconomies of scale，188bet app download But the market is huge，It is also difficult for a company with economies of scale to achieve a penetration rate of 30% or 50% in the entire market，But the camp education industry market is huge，And the demand is direct，There is a lot of space and content that can be explored in the entire industry，So although there are no economies of scale，But as long as there is a certain percentage of penetration，Then the scale will actually be very large for enterprises，Therefore, geometric investment attaches equal importance to the three parts。

Qian Pengfei believes that industries with stronger educational attributes are more likely to establish barriers，It is actually difficult to establish service barriers。

Pay more attention to investment over operating model

For the camp education industry chain from camps to courses to teachers to customer acquisition，Qian Pengfei thinks，An education camp itself has a reception capacity ceiling，And the reception time limit is strong，It is difficult to operate a camp profitably。Wang Xuehui expressed his views on the development status of the camp education industry，At present, very few companies that focus on operating models are profitable，Almost none，But the Qingqing tribe will also make their own camp，Because we need to 188bet app download do more experiments and development，After the operation and management capabilities mature，Can carry out custody operations in light asset mode。

Qian Pengfei’s expression on Zhihui，Geometry Capital is more inclined to invest in companies with light operating models，But it will not be completely limited to light operations，The Qingqing tribe makes its own camp to explore and try，This is no problem，Not dead，But for geometric investment，I still hope that the investment will have stronger growth potential、Copy faster、Enterprises that can achieve larger-scale development in the next 10 years or so。

*The author of this article: Wang Hui, an analyst at Zhihui.