Pearson, the British education company, announced Pearson Ventures, a fund that is set aside for investment in education technology startups.
The fund has committed an initial amount of $50 million for Series A and B financing of edtech startups that are have innovative business models and create Gen-next edtech technologies.
Pearson will invest in about five global companies every year, in the next three years. The focus will be on education bootcamps, tools for assessment and credentialing, AR (augmented reality), and other learning tools.
“Because education will look very different in 2030, Pearson, like learners all over the world, will need to continue to learn, adapt and reinvent itself: finding new business models, incorporating emerging technologies into its products and services, and finding new ways to collaborate with education institutions, government, and businesses.”
Company’s statement announcing Pearson Ventures.
“While Pearson Ventures will pursue competitive financial returns, equally important is its ability to collect shareable insights and drive organizational learning to help future-proof the company. As a result, they will be doing things a bit differently than a typical venture fund.”