Owl Ventures, a global venture capital fund, announced that it has raised more than $1 billion in new funds.
The fresh capital will further fuel Owl Ventures' strategy of making early, growth, and later stage investments in the world's leading EdTech companies.
Founded in 2014, Owl Ventures is managed by managing directors Ian Chiu, Tom Costin, Amit Patel, Tory Patterson and partners Malvika Bhagwat and Kate Chhabra. The fund invests in edtech companies across Africa, Asia, Europe, North America and Latin America.
Owl Ventures is the largest venture capital fund in the world focused on the EdTech market with over $2 billion in assets under management. The company invests in the world's leading education technology companies across the education spectrum encompassing PreK-12, higher education, future of work (career mobility/professional learning), and "EdTech+" (intersection of EdTech and other major industries such as FinTech and healthcare).
According to the company, the global education and training market which is undergoing a digital revolution presents a $6 trillion opportunity.
Owl Ventures has backed Indian startups such as Apna, BYJU'S Leap. Quizlet and Stash.The company's unique insights into the global EdTech market opportunity are highlighted by their investment in and relationship with BYJU's, the most valuable EdTech company in the world and the most valuable start-up in India.
Commenting on the latest development, Managing Director of Owl Ventures, Amit Patel, said, "The growth in blended learning, remote work, rise of direct-to-consumer models, enterprise learning and skilling, emergence of AI-enabled learning, increased 1:1 device programs, and rapid integration of AR/VR have all contributed to the global rise of education technology."
He further added, "The new funds that Owl Ventures has raised will allow the firm to continue to be a scaled and active lead investor in the next wave of innovative global edtech companies."
As the largest fund in the EdTech sector, Owl is able to finance companies from seed to late stage and be a uniquely valuable partner to visionary entrepreneurs. This hands-on approach helps companies across numerous functions including distribution, partnerships, talent, fundraising, and outcomes measurement.
According to Founder and CEO of BYJUS', Byju Raveendran, Owl Ventures has been an invaluable partner to BYJU's as we have scaled over the years. As an EdTech specialist, Owl is a differentiated investor that has provided unique value across many functions including acquisitions, partnerships, talent, and international expansion.
Owl Ventures has deep domain expertise and leverages a global network of Limited Partners, investors, and strategic partners to help entrepreneurs scale their businesses into transformative category leading companies.
The Silicon Valley-based firm closed $640 million for its fifth fund, $270 million for its second Opportunity Fund, and over $100 million in special purpose vehicles.