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Owl Ventures raises $185 million second fund for edtech

The San Francisco-based venture firm, which focuses exclusively on education technologies, aims to take advantage of the growth in schools’ broadband connectivity.

Owl’s $100 million first fund, launched in 2015, included a $15 million investment from the Bill & Melinda Gates Foundation. Its second fund will likewise focus on K-12, higher education and professional-learning startups.

Although Owl doesn’t describe itself as an impact investor, a number of its portfolio companies backed ventures have a clear impact model.

For example, Newsela aims to improve global literacy through daily news content. Accelerate Learning offers curricula and professional development to encourage interest in the sciences.

Owl’s founders previously worked together at Catamount Ventures, which invested in Revolution Foods, a provider of low-cost, healthy school lunches.

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