Brighteye Ventures, the European edtech VC firm, is announcing the $54 million first close of its second fund, bringing total assets under management to over $112 million.
Backing comes from a mixture of existing and new investors, made up primarily of unnamed international family offices. The fund’s second close is expected to take place next year and will include additional institutional investors.
Founded in 2017, Brighteye describes itself as a thesis-driven fund investing in startups that enhance learning. Unsurprisingly, the VC says it sees an unprecedented opportunity within the $7 trillion global education sector “as educators and students are adapting to distance learning en masse and millions of displaced workers are seeking to upskill’.
Out of this new fund, Brighteye will invest in 15-20 companies over the next three years at the seed and Series A stage and write cheques of up to $5 million.
“We invest in startups that use technology to directly enable learning, skills acquisition or research as well as companies whose products address structural needs in the education sector,” Alex Latsis, managing partner at Brighteye Ventures, tells me.
“For example, Zen Educate addresses the systemic issue of teacher supply shortages in the U.K., via an on-demand platform that saves schools money whilst allowing educators to earn more. Litigate is an AI-driven coach and workflow tool improving results for legal associates, while Ironhack, the largest tech bootcamp in Europe and Latin America, gives young professionals the skills needed to enter the