Dive Brief:
- NewSchools Venture Fund's Jennifer Carolan is leaving the nonprofit on Jan. 30, splitting off its ed tech startup "Seed Fund" as a for-profit investing firm.
- Carolan launched the Seed Fund at NSVF three years ago with $1 million, and it has since funded 42 startups with $12 million.
- The split will allow the Seed Fund to access to additional capital from new investors, letting it also expand beyond simply being a "seed" fund.
Dive Insight:
The New Schools Seed Fund will be renamed, but what that will be or how closely it will continue working with New Schools Venture Fund remains to be revealed. Its current investments will stick with New Schools Venture Fund, NSVF Chief Executive Stacey Childress told EdSurge, which is one of the fund's investments. EdSurge also noted that the Seed Fund split off a separate website several months ago. With its independence and expansion will also come the ability to follow its investments as they mature.
