Apollo rises from Phoenix

Apollo Education Group, the parent company behind Phoenix University, Western International University, and Apollo Group, has launched Apollo Education Ventures (AEV).

A corporate venture capital fund as opposed to a university venture fund, the size of which has not been disclosed, AEV will have a broad remit. Its target sectors will be on international companies and innovations in the higher education sector, but also professional development and human resources. The fund plans to invest at all stages from early to late, and will look to take minority positions alongside leading investors.

The fund was established with help from Touchdown Ventures, a traditional VC which partners corporations looking to set up corporate venture capital units. Touchdown will assist AEV through all stages of its development, including deal sourcing, due diligence, and portfolio company management.

Greg Cappelli, CEO at Apollo Education Group, said: “Apollo Education Ventures provides a tremendous opportunity for Apollo Education Group to partner with young companies that embody the spirit of innovation. We are excited to build long-term relationships with best-in-class management teams and their investment partners to provide value far beyond the financial capital we bring to start-ups and entrepreneurs.”