Educapital targets €150 million second edtech fund after €100 million first close

Paris-headquartered venture firm Educapital was reported on March 16, 2022, to be raising a second fund with a target of €150 million, which Sifted described as the largest education technology fund in Europe. TechCrunch reported on May 11, 2022, that the first close had brought in €100 million, about $105 million, matching the amount the firm had originally set out to raise.

The firm plans to back about 20 more companies from the fund, typically investing €3 million to €10 million, mostly at the Series A stage. Three investments had already been made from it: Chance, Fourth Rev and Invivox. Returning limited partners include Hachette Livre, Bayard and Education for the Many, while new ones include Éditions Francis Lefebvre, the Jacobs Foundation, UMR, BNP Paribas Innovation, Arkea and Matmut. The firm's scope now extends beyond education technology to startups working on the future of work.

Educapital was set up about four years earlier. Its first fund invested in 20 companies, mostly in Europe, including 360Learning, Labster, Preply and LiveMentor, and had recorded two exits, Lalilo and AppScho. The firm said around 40% of its portfolio companies were founded or co-founded by a woman.