Reach Capital Raises $265 Million for Fifth Fund

Reach Capital is raising a fifth fund worth $265 million to invest in early-stage artificial intelligence (AI) companies. The investment targets companies creating AI applications in learning, healthcare, and workplace sectors. Reach Capital closed the fundraising for its fifth fund on the 18th, which will invest in approximately 50 companies from pre-seed to Series A stages, with individual investments ranging from $1 million to $10 million. The investment execution period is set for the next three years. Founded in 2015, Reach Capital is a San Francisco-based venture capital firm, with existing portfolio companies including Replit, ClassDojo, and Coral Care. The fund's investors include CapriCon Investment Group, the Los Angeles Fire and Police Pension, the LEGO Foundation, and the College Board. Reach Capital believes that AI should serve human prosperity and is expanding its focus from education technology investments to include healthcare and job accessibility through AI. Recently, the AI detection startup GPTZero was acquired, and Reach Capital participated as an investor in this company.

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