Shaping the Future of Learning: A Conversation with James Tieng on Lumos Capital's Educational Vision

In a world where the demands on education continue to shift, few people are as committed to shaping its future as James Tieng, Co-Founder and Managing Partner of Lumos Capital Group. As a private equity firm focused on education and workforce development, Lumos has become a driving force behind the transformation of how we learn, work, and prepare for the future. Under Tieng’s leadership, Lumos is not just investing in education companies — it is reimagining what is possible for students, teachers, and workers alike.

Lumos Capital Group, founded in 2018, is a growth-stage private equity firm with an ambitious mission to identify, fund, and scale companies that are creating lasting, positive change in the education sector. As a co-founder and Managing Partner, Tieng wears many hats, ranging from fundraising and limited partner (LP) management to sourcing deals, executing transactions, and ensuring value creation for portfolio companies. Under his leadership, Lumos has committed itself to creating lasting change in the education space, ensuring that the companies it invests in are not only financially successful but also deeply impactful.

Before co-founding Lumos, Tieng built a career at some of the world’s top consulting and investment firms, including McKinsey & Company, Apax Partners, and Quad Partners. These roles exposed him to the intricacies of business strategy, deal-making, and the private equity landscape. "All the firms I worked at created great potential mentors along the way," he shared. These mentors helped guide him as he learned how to create value, interact in boardrooms, and prioritize tasks in high-pressure environments.

However, beginning his own firm was not without its challenges. One of the most significant hurdles was learning how to attract and manage capital. Tieng admitted that building relationships with investors and understanding their needs was a steep learning curve. He explained, "How do you build that network? How do you garner trust? How do you filter out those that aren't going to be a great fit for whatever reason?" This trial-by-fire experience shaped Tieng’s approach to fundraising and building a sustainable firm.

A Princeton graduate with a major in Economics and a certificate in Finance, Tieng credits much of his success to the intellectual rigor and community he found at the university. He noted, "Princeton absolutely has been transformative in so many ways, the relationship, the network that it's created personally and professionally." Through his time at Princeton, Tieng developed a strong foundation in economics and finance and honed his abilities to think critically, communicate effectively, and approach problems in structured, fact-based ways.

Beyond academics, Tieng was deeply involved in extracurricular activities that helped him cultivate essential leadership and communication skills. He was the president of the American Whig–Cliosophic Society and captain of the mock trial team. Tieng said these experiences taught him how to think on his feet, negotiate, and persuasively present his ideas.

Princeton’s unique culture of intellectual rigor and a deep commitment to developing leaders has also helped Tieng build lasting professional relationships. He revealed, "Some [Princeton alumni] are my investors today.” This network, alongside his academic experiences, provided Tieng with the foundation to embark on a career in private equity and to later launch Lumos Capital Group.

One of the key elements of Lumos Capital Group’s success has been the strong partnership between Tieng and his co-founder, Victor Hu. Though the two had known each other professionally before starting the firm, they had never worked together closely. Early on, they faced the challenge of establishing effective communication and aligning their values, especially since they were based on different coasts — Tieng on the East Coast and Hu on the West Coast. "We knew each other well, certainly professionally, but we had never been on the same coast at the same time," Tieng explained. Despite this, they shared a strong bond in terms of both their professional chemistry and their alignment in faith.

Tieng and Hu quickly realized that having open, transparent communication was key to their partnership. They engaged in conversations about their personal habits and values, which helped them understand how they would collaborate. "What time do you get up in the morning? What time do you go to bed? What matters most to you in the mornings? In the evenings?" Tieng recalled, emphasizing how these seemingly simple questions helped smooth out potential challenges in their partnership.

Another asset that sets Lumos Capital Group apart from other firms is Tieng's personal commitment to the education sector. As a father of two, Tieng is intimately familiar with the challenges that parents and educators face in today’s learning environment. “It comes down to having a greater sense of empathy,” he said. “To know that it could be my kid who's using [a certain educational learning platform] helps you realize that there are real lives on the other side of it.” Tieng also acknowledged that while his family enjoys certain privileges, such as living in New York City, he is mindful of the broader educational landscape and the disparities that exist across different regions and communities.

As Lumos Capital Group continues to grow, Tieng has clear aspirations for the firm’s future. He hopes to create a lasting legacy that extends far beyond his own tenure at the company. "To create a franchise that outlives me," he said, emphasizing his long-term vision for the firm. Tieng aims to support even more companies that can make a positive difference in education and workforce development, with a particular focus on creating measurable outcomes for students, teachers, and employers.

Additionally, Tieng expressed his desire to continue learning and growing in his role at Lumos. "I want to learn as much as I can in each of these different roles," he shared. He also hopes to build a strong, high-quality team that can take Lumos’s mission forward and make a lasting impact on the education sector.