Bertelsmann and Bozano Announce $43M Brazilian Edtech Fund

KEEPING IT "REAL": Bertelsmann, the German-based international media conglomerate, and Brazilian investment fund Bozano Investimentos announced a Brazilian edtech fund that will be worth approximately 100 million reals (approx. US $43 million). So far, two-thirds of that amount has been raised, according to the press release. Bertelsmann will hold roughly 30% in BR Education Ventures, while Bozano will manage the fund. It plans on investing in eight to ten companies, two of which have already been locked in: Evolve (an online distributor of education videos for companies) and QMágico (adaptive learning platform for students and teachers).

Bertelsmann previously partnered with the University of Texas Investment Management Company for the $100 million University Ventures Fund, which so far has a portfolio of 9 higher-ed companies.

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