Luxembourg-based European edtech VC Brighteye Ventures has announced the final close of its second fund at €100 million. The fund will provide capital to European edtech start-ups in their early-stages, investing in Seed and Series A rounds.
Support for the fund came from several investors including the European Investment Fund (EIF), Jacobs Foundation, Partners in Equity, as well as family offices from Europe, Asia and the Middle East.
“We are very proud to have the leading European institutional partner backing Brighteye Fund II. The EIF’s support is testimony to the great confidence both the European Union and the market have in the burgeoning sectors of Edtech and workforce transformation, with key challenges facing societies as automation presents both significant risks and massive opportunities for the development of human productivity,” says Alexander Latsis, Founding Partner at Brighteye.
Brighteye Ventures began in 2017 - its second fund is double the size of the first fund, taking the total assets under management to €150 million and its most successful portfolio company to date is Epic! who successfully exited at $500 million in 2021
“Brighteye has been fortunate to accompany some incredible entrepreneurs across Europe and North America. We’re grateful to have more resources to assist them, and excited to partner with the next wave of founders harnessing technology to maximise human potential,” says Founding Partner Benoit Wirz.
“In a changing economy, skills and human capital have to be adaptable and constantly updated. This is why, with the backing of the InvestEU programme, we are keen to support fund managers like Brighteye Ventures that are active in the education technology space, ensuring that European businesses developing innovative solutions to help improve skills and education get the support that they need,” says Marjut Falkstedt, EIF Chief Executive.