Rethink Education Looks to Raise $150M For Its Third Edtech Investment Fund

Investors

Rethink Education Looks to Raise $150M For Its Third Edtech Investment Fund

May 14, 2019

RETHINK RETURNS: Rethink Education, a White Plains, New York-based education technology investment firm, has a new fund in the works. According to SEC filings first reported by PEHub, Rethink is targeting $150 million for what would be its third fund.

Founded in 2012, Rethink Education has invested in more than 60 edtech companies, a handful of which have exited and delivered healthy financial returns. Two of its portfolio companies—2U and Pluralsight—have gone public. General Assembly and Trilogy Education were acquired, respectively, for $412.5 million and $750 million.

Rethink Education previously closed $107.5 million for its second fund in 2017, and $60 million for its first. The firm has also partnered with Southern New Hampshire University to create a $15 million edtech seed fund that is jointly managed by the two parties.

Rethink declined to comment as the fundraising is still in progress. In an EdSurge op-ed last year, its managing partner Matt Greenfield offered a glimpse into the “sources of hope” that make him bullish about the education technology industry.

 

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