Reach Capital closes $265 million fifth fund for AI in learning, health and work

Reach Capital, an early-stage venture capital firm, announced on August 24, 2026 that it had closed its fifth fund, Reach V, at $265 million. The fund will invest in early-stage companies that apply artificial intelligence in three areas: learning, health and work.

The firm said the fund closed quickly and was oversubscribed, with returning and new investors that include university endowments, pension funds, education and community organizations, family offices and founders of earlier portfolio companies. Named limited partners include Capricorn Investment Group, College Board, Los Angeles Fire and Police Pensions, the LEGO Foundation and the San Francisco State University Foundation. With the new fund, Reach reports $1 billion in assets under management across five funds.

Reach Capital was founded in 2015 and says it has backed more than 180 companies. Its portfolio includes ClassDojo, Desmos and Lovevery in learning; Cartwheel, Coral Care and Stepful in health; and Handshake, Replit and WorkWhile in work. The firm describes its strategy as thesis-driven and sector-focused, aimed at both social impact and financial returns, and says its funds have ranked in the top quartile of industry benchmarks. The release was issued from San Francisco.