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Silicon Valley VC Firm Owl Raises $1 Billion for EdTech Bets

  • EdTech specialist now has total assets topping $2 billion
  • Remote learning startups have added users during pandemic

Silicon Valley’s Owl Ventures raised more than $1 billion for venture-capital funds targeting education-tech companies, increasing its backing for an industry that’s grown rapidly during the pandemic.

Owl, which focuses on edtech investments, closed $640 million for its fifth fund, $270 million for its Opportunity Fund II and more than $100 million for special purpose vehicles, the firm said in a release on Wednesday. That brings the company’s assets under management to over $2 billion.