Reach Capital raises $265M Fund V to back AI founders building to ‘expand human potential’
Reach Capital announced Tuesday the close of a $265 million Fund V. The thesis of the 11-year-old, San Francisco firm is to back founders building AI applications that can “expand human potential,” Tony Wan, head of platform at Reach Capital, told TechCrunch. In practice, he added, that means looking at founders building across three areas: learning, health, and work.
“We believe AI should serve human flourishing, not replace it,” Wan said. The firm’s previous investments include Replit, ClassDojo, and Coral Care.
The new fund will write checks of $1 million to $10 million, spanning pre-seed through Series A, into roughly 50 companies over the next three years. So far, no companies have been backed through Fund V.
Limited partners include Capricorn Investment Group, the Los Angeles Fire and Police Pensions, the LEGO Foundation, and College Board. Speaking to TechCrunch, general partner Jomayra Herrera said fundraising went smoothly and that the...
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