The International Finance Corporation (IFC) committed up to $20 million for a new Education Innovation Fund managed by Learn Capital. The fund will invest in early to mid-stage edtech companies focused on or located in emerging markets reports VCCircle.
IFC, the private sector lending arm of the World Bank group, comes in as an anchor LP through straight equity investment, the Education Innovation Fund targets a total of $100-150 million.
The fund will focus on edtech companies with large impact in emerging markets, especially Latin America. Those companies can either be located outside or inside emerging regions, but need to have a substantial user base in those regions.
IFC selected Learn Capital as fund manager out of 50 applicants. Founded in 2008, Learn Capital has currently over $78 million assets under management and manages four funds. Its portfolio includes edtech startups like Edmodo, Coursera, General Assembly, Udemy, BrightBytes and ClassDojo.
Bertelsmann just recently announced a $43 million fund managed by Brazilian investment company Bozano Investimentos. The BR Education Ventures Fund aims to invest into eight to ten portfolio companies in Brazil.
- IFC commits up to $20M in emerging markets-focused education fund | VCCircle
- HEDLINE: Bertelsmann launches €30 million BR Education Ventures Fund | EDUKWEST