NewSchools, an Oakland, Calif.-based a nonprofit venture philanthropy firm which invests in high-impact education technology entrepreneurs focused on K-12, closed a $12m seed fund.
Led by Jennifer Carolan, managing director, NewSchools Seed Fund invests in entrepreneurs developing education technology tools, applications, content, and services that will significantly improve education opportunities for all children.
It has already invested in more than 22 ventures, leading 17 seed rounds of financing and co-investing alongside other firms, including Kapor Capital, Rethink Education, Relay Ventures and Accel Partners.
The fund aims to provide capital and support to 55 edtech ventures by the end of 2015.
NewSchools also has offices in offices in Boston and Washington, D.C.