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O investidor da Edtech Reach Capital dispara para o fechamento do Fundo III de US$ 165 milhões, mais que o dobro do total do Fundo II

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Education tech investor Alcance o capital has hit a $165m final close for its third fund, more than twice the total it raised for its predecessor vehicle.

Reach spun out of NewSchools Venture Fund in 2015 and raised its $53m debut fund later that year, surpassing its target after accepting commitments from both individual and institutional investors.

The firm went on to haul in $82m for the final close of Reach II in the summer of 2018, having initially targeted $75m for the vehicle.

A blog post from Reach confirming the Fund III success said, “It’s not the size of the fund that matters. It’s the aspiration.

“Since our inception, we’ve set out to do two things well – to deliver excellent financial returns by building excellent companies, and to deliver a benefit to society by backing companies that help people improve their lives through learning.

“We focused on education when few in VC did, and we’re proud that we’ve delivered both top-tier financial returns and an impressive record of impact.”

LPs backing Fund III include the vau Fundação, Geografia nacional Sociedade, Sesame workshop, Caprock, Hall Capital, and Kaiser Foundation Hospitals.

Investments made by Reach have included Nearpod, Outschool, Replit, Newsela and Lovevery.

Direitos autorais © 2021 AltAssets

Source: https://www.altassets.net/private-equity-news/by-pe-sector/venturegrowth/edtech-investor-reach-capital-rockets-to-165m-fund-iii-close-more-than-double-fund-ii-total.html

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