Reach Capital raises $265 million fund for AI learning, health, work
San Francisco's Reach Capital just closed a $265 million fund to invest in AI startups working on learning, health, and work.
The firm, around since 2015, says Tony Wan, head of platform at Reach Capital, wants to support tech that "expand human potential."
Reach Capital plans about 50 investments
Reach plans to back about 50 early-stage companies over the next three years, with investments from $1 million to $10 million each.
Despite a tough market, they raised this fund in under six months with support from Capricorn Investment Group and the LEGO Foundation.
Past wins include GPTZero, the AI-detection tool recently acquired by Superhuman, the productivity platform now owned by Grammarly, after hitting more than 19 million registered users and $30 million in annual recurring revenue.