The firm also formed its first ever opportunity fund at $170 million to work as a growth-stage bank for existing portfolio companies. With over $1. 2 billion in assets under management, Owl Ventures claims that it is the largest venture capital fund in the world focused solely on edtech.
Today, Owl Ventures, a San Francisco-based education technology fund whose portfolio includes Byju’s, Labster, Masterclass and Quizlet, announced that it has closed a pair of investment vehicles totaling $585 million.
The opportunity fund will exist to back existing investments throughout their lifetime. “Edtech as a sector is really exploding and emerging,” said Ian Chiu, the managing partner at Owl Ventures. “It’s not that COVID is the reason for that.