Ed tech venture capital fund Brighteye Ventures has announced the €46 million first close of its second fund, EUStartups has reported.
The funding for the first close comes from existing and new investors, primarily international family offices, with a second close expected next year to include institutional investors.
Founded in 2017 and based in Paris and London, Brighteye Ventures invests in start-ups that enhance learning and now has more than €95.4 million in assets under management.
Alex Spiro Latsis, managing partner at Brighteye Advisors, sole advisor to the fund, said: “While Brighteye Ventures has long advocated for greater adoption of tech-enabled learning solutions, we scarcely imagined the size of the move that closing 90% of global schools would provoke in Europe, the US and beyond. This has led to massive adoption in the last few months, but the effects will persist. Post-crisis, we expect broader awareness of tech-enabled learning tools to continue to drive increased adoption as consumers and businesses look to enhance skills through the coming recession and recovery. Brighteye Ventures’ new funding injection will allow us to support the most exciting companies in the market, and ensure our portfolio founders are well-placed to capitalise on the growth potential.”
Brighteye Advisors partner Benoit Wirz added: “People’s need to learn is neither transient nor discretionary; education is necessary for society to function, but the way we learn needs to evolve. Adults face a growing need for reskilling or upskilling in the face of economic turmoil. People – young and old – want to realise their potential via dynamic and relevant learning experiences. At their core, the companies we invest in add value to the learning experience by being cheaper, more engaging, more relevant and more efficient than traditional offerings. Our existing portfolio spans the breadth of learning technology. We can’t wait to partner with a new crop of entrepreneurs helping to match potential with opportunity at scale.”
Date published: 15 October 2020