The first close of the second fund was recently announced by the firm. The team has already secured over 100 million dollars and now wants to raise another 150 million dollars to invest in edtech startups and companies working on the future of work.
I talked to Marie- Christine Levet, one of the firm's two co-founders, about the investment thesis and goals of the second fund.
Four years ago, we created the firm. We were the first European edtech fund. We invested in 20 companies in four years. Marie- Christine Levet told me that there is a wide investment spectrum from early childhood to Vocational training.
The first fund of the firm includes companies such as Labster, Preply, LiveMentor, Simundia and PowerZ.
A lot of the portfolio companies have raised follow-on investments. Around 40% of the companies in the portfolio have been founded by a woman.
The Covid crisis has accelerated history. Levet said that they had saved 5 to 10 years.
The team wanted to raise 100 million dollars. The first closing of the fund made it easy to reach that goal. The fund cap is 150 million.
We think there has been a complete change. Levet said it was harder than ever to draw a line between work, school and professional training.
The company wants to invest in more companies. The Series A stage is where the round is most likely to be. Three companies have raised funds from the second fund.
Many of the existing backers decided to invest in the second fund. The investors include Hachette Livre, Bayard, Education for the Many, etc.
Marie- Christine Levet insisted that the fund isn't a strictly edtech fund despite the name. The firm wants to invest in startup companies.
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