Venture firm Reach Capital has raised $265 million for its fifth fund, with the new vehicle set to back AI startups focused on education and workforce applications. The firm said the fund will not make direct investments in cryptocurrencies or digital assets.
The fund is about 23% larger than Reach Capital’s fourth fund, which closed in April 2023. According to Techub, citing CryptoBriefing, the increase suggests limited partners are still willing to commit capital to AI-focused strategies even as the broader venture market has cooled.
Reach Capital has previously invested in education technology companies including ClassDojo. The latest fund signals continued interest in AI within education and labor-related sectors, while drawing a clear line against direct exposure to crypto and other digital assets.
Reach Capital has raised $265 million for its fifth fund, according to Techub News. The venture firm said the new vehicle will invest in AI startups focused on education and workforce themes, while excluding direct investment in cryptocurrencies or digital assets.
The fund is about 23% larger than Reach Capital’s fourth fund, which closed in April 2023. Techub, citing CryptoBriefing, said the increase points to continued interest from limited partners in AI-focused strategies despite a broader slowdown in the venture capital market.
Reach Capital previously backed education technology companies including ClassDojo.
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