Brighteye Ventures closes debut fund at €50m
Brighteye Ventures, an education technology-focused venture firm, has closed its debut fund at €50 million.
The venture capital fund is based in Luxembourg and claims to be the first and largest 'edtech'-focused European venture capital fund.
The fund will lead or participate in early seed funding rounds for innovative companies using technology to enhance learning and creativity.
Brighteye Venture Advisers, based in Paris, is the sole advisory to the fund, led by partners Alex Spiro and Benoit Wirz.
“Education is a $6 trillion (€5.2 trillion) global annual market that has so far avoided the kind of digital disruption seen in other sectors,” Spiro said. “With just 2% digital penetration there is a clear market opportunity.”
Brighteye Ventures is looking to invest between €500,000 and €3 million per round in 20 companies over the next three years and will consider investing in companies working across a full range of educational levels, from kindergarten to university.
The fund wants to lead investments in Europe and Israel and co-invest alongside partners in the US.
It has already invested in two companies, participating in the $8 million series C of Epic!, a digital content platform for under 12s, and Lightneer’s $5 million seed round, a learning games studio from Helsinki.
(Hannah Brenton, firstname.lastname@example.org, +352 4993 728)