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Laxman Pai, Opalesque Asia: San Francisco, CA-based education technology venture capital firm Owl Ventures closed two new funds totaling $585 million.
Of that amount, $170 million will go to its Opportunity Fund, earmarked for making follow-on investments for its existing portfolio. Since 2015, Owl has invested in 39 edtech companies.
The rest-$415 million-will go to its fourth fund, Owl Ventures IV, from which it will invest in new education startups.
The largest venture capital firm in the world focused on the education technology sector with over $1.2 billion assets under management informed that backers of the funds are global Limited Partners consisting of college & university endowments, foundations, strategic education institutions, sovereign wealth funds, and family offices from across the U.S., Asia, Europe, Middle East, and South America.
The new funds allow Owl Ventures to cut larger checks. Traditionally, the firm cut checks that were between $5 million to $35 million. Now, it can write investments up to $50 million in companies. The opportunity fund will exist to back existing investments throughout their lifetime.
"The new funds will help fuel its strategy of making early, growth and later-stage investments in the world's leading education technology companies across the education spectrum including PreK-12, higher education, and future of work (career mobility/professional learning)," the venture capital firm said in a pres...................... To view our full article Click here
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