Emerge enrols new fund

University of Cambridge’s publishing and examination boards have both invested in the inaugural UK-based fund of edtech-focused venture firm Emerge Education, FinSMEs reported on Thursday.
The fund’s current and target size are undisclosed. In addition to Cambridge University Press and Cambridge Assessment, limited partners include higher education technology body Jisc and academic innovation board Nesta.
Education services provider Grupo Tiradentes is also participating, as are private investors Dan Sommer and Rob Cohen. Emerge Education is managed by investment and advisory services firm Midmar Capital.
The fund will supply £250,000 ($307,000) per company in pre-seed and seed rounds, rising to a maximum of $1.2m across later stages.
Emerge typically allocates a third of its overall funding to pre-seed businesses, with the remainder invested at the seed stage.
Slated to back a total of 20 to 25 Europe-based startups, Emerge’s new fund appears to be eschewing North America, despite the region typically forming part of the firm’s remit.
Founded in 2013, Emerge focuses on higher education, lifelong learning and the future of work.
It especially engages with applications that help academic institutions scale, connect the worlds of education and employment, and refine the skillsets of jobseekers.
Emerge appears to have invested directly until now, backing 55 portfolio companies to date alongside co-investors including impact seed investment firm LocalGlobe and education-focused VC firms RethinkEducation and Learn Capital.
Businesses in Emerge’s existing portfolio include university student mentorship service Mentor Collective, creative education portal Creiiana and learning communication platform Aula.