IFC discloses investment in emerging markets edtech fund
The IFC has disclosed an investment of up to $20 million in Learn Capital Venture Partners – EM, an emerging markets-focused investment fund which will co-invest with specified investment funds of Learn Capital into qualified portfolio companies meeting agreed-upon criteria. Founded in 2008, Learn Capital is a venture capital firm headquartered in Silicon Valley, focusing exclusively on education technology investments.
Learn Capital is managed by Rob Hutter and Greg Mauro, who have 20-plus years combined experience in edtech investing. IFC was the anchor investor in Learn Capital Venture Partners III, a $150 million fund with a specific emerging markets focus and mandate. With ongoing demand for tech-enabled education and skilling solutions, Learn Capital is raising new global edtech funds, including Learn Capital Venture Partners IV.
The proposed transaction is an investment of up to $20 million in the EM Fund, which will co-invest with Fund IV and other Learn Capital funds in qualified investments. Qualified investments are defined as companies which are not engaged in the ownership or operation of K-12 schools; and (a) are domiciled in emerging markets; or (b) now have, or in the best judgement of Learn Capital based on verifiable business plans, are expected within five years to have, substantial operations or usage in or generate substantial revenues from emerging markets. IFC will initially be the sole limited partner in the EM Fund, but both IFC and Learn Capital will seek to mobilise other like-minded investors including DFIs.
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