US-based edtech-focused venture capital firm Reach Capital has raised $165m for its third fund from investors including children’s entertainment producer Sesame Workshop and scientific organisation National Geographic Society.
Kaiser Foundation Hospitals, the medical care centre of health system Kaiser Permanente, is also among the limited partners, as are philanthropic organisation Ford Foundation, wealth management firm Caprock and investment company Hall Capital.
Unnamed employee retirement funds have also invested in the vehicle.
Reach Capital focuses on educational technology developers that aim to remove barriers, particularly those faced by ethnic minorities, disabled students and under-resourced communities.
Reach Capital’s existing portfolio include Outschool, a US-based online after-school activity portal backed by Sesame Workshop, and Springboard, a US-based adult online mentorship service also backed by telecommunications firm Telstra-affiliated VC firm Telstra Ventures.
