European VC firm Brighteye closed its second fund at €100M ($109M). The firm plans to invest the capital in approximately 35 edtech startups. 95% of the capital is earmarked for core investments into 25 to 30 startups. - Individual ticket sizes at seed and Series A rounds will range between €1.5M ($1.6M) and €4M ($4.4M).
- The remaining 5% is set aside for making pre-seed investments alongside angel investors and VCs.
- In addition to investing in consumer-facing and B2B edtech startups, the firm will also back startups selling products and services directly to schools, universities, and governments.
- The European Investment Fund (EIF), Partners in Equity, and Jacobs Foundation contributed capital to the fund as limited partners.
European edtech startups raked in $1.8B in VC funding in 2022, up 30% from 2021. |
