Apollo Education Group, the parent company behind a range of for-profit educational institutions, launched a corporate venturing unit yesterday called Apollo Education Ventures (AEV).
The size of the fund has not been disclosed, but AEV will have a broad remit. Its target sectors will involve international companies and innovations in the higher education sector, as well as professional development and human resources.
AEV plans to invest at all stages from early to late, and will look to take minority positions alongside leading investors.
The fund was established with help from Touchdown Ventures, a venture capital firm that partners corporations looking to set up corporate venture capital units. Two of Touchdown’s three founders, David Horowitz and Richard Grant, previously worked at Comcast Ventures, cable service provider Comcast’s corporate venturing arm.
Touchdown will assist AEV through all stages of its development, including deal sourcing, due diligence, and portfolio company management.
Greg Cappelli, CEO of Apollo Education Group, said: “Apollo Education Ventures provides a tremendous opportunity for Apollo Education Group to partner with young companies that embody the spirit of innovation.
“We are excited to build long-term relationships with best-in-class management teams and their investment partners to provide value far beyond the financial capital we bring to start-ups and entrepreneurs.”
– This piece was adapated from an article in Global University Venturing.