Global investment banking and asset management group Goldman Sachs and China-based e-commerce and technology conglomerate Alibaba Group Holding have led a US$600 million Series A funding round for Suning Sports, the sports-focused arm of China-based retailer Suning. Yunfeng Capital, Lion Rock Capital, Evergrande Group, SenseTime, China Construction Bank, Industrial & Commercial Bank of China and Agricultural Bank of China also participated in the round. Suning Sports owns three football clubs, which have reportedly been excluded from the transaction, and the domestic media rights to various sporting competitions in Europe and Asia. Separately, Goldman Sachs also participated in a US$350 million Series D funding round for China-based education platform Zuoyebang led by Coatue Management. Fund managers Primavera Capital Group, GGV Capital, Sequoia Capital China, Tiantu Capital, Zianghe Capital, New Enterprise Associates and Taihe Capital also participated in the round. Zuoyebang, which offers a mobile application platform for students to find solutions to academic problems, spun out from China-based internet company Baidu in 2014.