Sparkmind launches the first EdTech fund in the region to help start-up companies secure funding
Recognising the growth of the EdTech industry both locally and globally, Finnish venture capital firm Sparkmind has setup an EdTech fund of €40 million to help startups. The first company to receive funding is Finnish company Fuzu, a career platform currently operating in East Africa. The capital injection of €1.5 million will help it expand its operations to serve the pan African market.
Sparkmind is aiming to help any EdTech companies from nursery through K-12 and adult learning. It is also hoping to partner with other venture capital firms to invest beyond the Nordics. Cornerstone investors in Sparkmind are: Tesi and KRR III, as well as OP Banking Group, Elo Mutual Pension Insurance Company, the University of Jyväskylä and the City of Espoo.
“ Measured by the total spending, education is one of the largest sectors in the world. However, the aggregate market capitalization of learning companies is relatively low. The education sector is on the verge of an upsurge in innovation and capitalization. These fundamentals create a unique opportunity for a specialist VC to create value during the 2020s and beyond. Our fund offers access to limitedly available learning sector for institutional investors seeking increased diversification, as evidenced by strong interest in the first close. ” Marko Kyyrönen, Founder and Partner
Sparkmind.vc is the first Nordic venture capital company focused on the learning sector. The company invests in teams transforming early childhood, K12, higher, secondary and vocational education, as well as corporate and lifelong learning. The investment sweet spot of the company is from seed to international growth phase with single investments up to €5m.
The Sparkmind team consists of the following partners:
- Kai Talas
- Vesa Laakso
- Antti Korhonen
- Marko Kyyrönen
For more information, please visit www.sparkmind.vc