Company VC Educational newspaper recently announced that it has reached the first close of the second fund. The team has raised $105 million (€100 million) and now wants to reach $160 million (€150 million) to invest in edtech startups as well as companies that are growing the future of work.
“We founded the company four years ago. We are Europe’s first edtech fund. In 4 years we have invested in 20 companies, mostly in Europe. Marie-Christine Levet told me we have a wide range of investments from childhood to vocational training.
So far, Educapital has created two exits (Lalilo and AppScho), and numerous portfolio companies have raised follow-up investments. About 40% of the companies in Educapital’s portfolio were founded or co-founded by a woman.
“The Covid crisis is a catalyst – history has accelerated. We saved five to 10 years,” says Levet.
With Educapital’s second fund, the team wants to raise 100 million euros. But it was pretty easy because they achieved that goal with the first closing. Currently, Educapital wants to reach a fund cap of 150 million Euros.
“We think there has been a complete turnaround. It’s harder than ever to draw the line between work, school, and professional training,” says Levet.
Educapital wants to invest in 20 other companies. A typical education round is anything from €3 million to €10 million, most likely at the Series A stage. Three companies have raised Educapital’s second fund – Chance, Fourth Rev and Invivox.
When it comes to limited partners, many of Educapital’s current backers have decided to invest in the second fund. These investors include Hachette Livre, Bayard, Education for the Many, etc. New investors include Éditions Francis Lefebvre, Jacobs Foundation, UMR, BNP Paribas Innovation, Arkea, Matmut and others.
During my discussion, Marie-Christine Levet also emphasized that Educapital is not a strictly tech education fund — despite the name. The company also now wants to invest in “future of work” startups.