VC agency Educapital just lately introduced that it has reached the primary shut of its second fund. The workforce has already secured $105 million (€100 million) and now desires to succeed in $160 million (€150 million) to spend money on edtech startups in addition to firms engaged on the way forward for work.
I caught up with Marie-Christine Levet, one of many agency’s two co-founders with Litzie Maarek, in order that she might inform me about Educapital’s funding thesis and targets with this second fund.
“We created the agency 4 years in the past. We had been the primary European edtech fund. In 4 years, we invested in 20 firms, largely in Europe. We’ve got a large funding spectrum from early childhood to vocational coaching,” Marie-Christine Levet informed me.
Some firms within the portfolio of the agency’s first fund embrace 360Learning, Labster, Preply, LiveMentor, Simundia and PowerZ.
Up to now, Educapital has generated two exits (Lalilo and AppScho), and lots of the portfolio firms have raised follow-on investments. Round 40% of Educapital’s portfolio firms have been based or co-founded by a girl.
“The Covid disaster has been a catalyst — historical past has accelerated. We’ve saved 5 to 10 years,” Levet mentioned.
With Educapital’s second fund, the workforce needed to lift €100 million. But it surely’s been fairly straightforward as they reached that purpose with the primary closing of the fund. Educapital now desires to succeed in the fund cap at €150 million.
“We predict there was an entire change. It’s more durable than ever to attract a line between work, faculty {and professional} coaching,” Levet mentioned.
Educapital desires to spend money on one other 20 firms. A typical Educapital spherical is something between €3 million and €10 million, most certainly on the Collection A stage. Three firms have raised from Educapital’s second fund already — Chance, Fourth Rev and Invivox.
With regards to restricted companions, lots of Educapital’s present backers determined to spend money on the second fund. These buyers embrace Hachette Livre, Bayard, Training for the Many, and so forth. New buyers embrace Éditions Francis Lefebvre, the Jacobs Basis, UMR, BNP Paribas Innovation, Arkea, Matmut and others.
In my dialogue, Marie-Christine Levet additionally insisted that Educapital isn’t a strictly edtech fund — regardless of the title. The agency now additionally desires to spend money on “future of labor” startups.
