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Reach Capital Closes Fifth Fund at $265 Million, Expanding Investment Scope
Key points
- Reach Capital closed its fifth fund at $265 million.
- Total assets under management are now nearly $1 billion.
- The firm plans to invest in 50 new companies.
- Investments target pre-seed, seed, and Series A rounds.
Fifth Fund Closure and Expanded Focus
Reach Capital, an investment firm, recently announced the closure of its fifth fund, securing $265 million. This new fund increases the firm's total assets under management to nearly $1 billion. The firm, which has previously backed over 180 companies, intends to invest in approximately 50 additional teams through this new vehicle.
Investment Strategy and Scope
The new fund will target pre-seed, seed, and Series A rounds. While Reach Capital initially focused on technology for K-12 schools and districts, its mandate has expanded to include learning, health, and work sectors. Notable past investments include ClassDojo, Cartwheel, Stepful, and Replit.
Background and Evolution
Founded in 2015 as a spin-out from NewSchools Venture Fund, Reach Capital's early focus was exclusively on education technology. Partner James Kim, a former high school math teacher, experienced the impact of early education technology like ClassDojo firsthand. The firm's evolution reflects a broader view of technology's role beyond traditional education settings.
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Reporting from
Reach Capital, an investment firm, announced the closing of its fifth fund, totaling $265 million, bringing its assets under management to nearly $1 billion. This new fund will support investments in approximately 50 additional pre-seed, seed, and Series A companies across learning, health, and work sectors, expanding beyond its initial K-12 education focus.