Reach Capital Closes $265M Fund V for Technologies That Expand Human Potential in the AI Era

The firm’s fifth fund will back early-stage founders applying AI to society’s most consequential challenges across learning, health, and work.

SAN FRANCISCO--(BUSINESS WIRE)--Reach Capital today announced the close of Reach V, its fifth fund, at $265 million. The firm will continue investing in founders dedicated to building a more inclusive, human-centered and opportunity-rich world.

As artificial intelligence creates new possibilities in areas essential to human development, Reach V will focus on early-stage companies pioneering AI applications across learning, health, and work.

“The systems that shape how people learn, stay healthy, and build meaningful lives are being reimagined in real time,” said Jennifer Carolan, Co-founder and General Partner of Reach Capital. “AI gives this generation of founders an extraordinary opportunity to make those systems more accessible and effective. Reach V allows us to keep doing what we do best: partnering early with mission-driven founders who understand these problems deeply and are building toward measurable, lasting change.”

Founded in 2015, Reach Capital is the leading early-stage investor across learning, health, and work, with more than 180 companies and $1 billion in assets under management across five funds. Its portfolio of category leaders include ClassDojo, Desmos, and Lovevery in learning; Cartwheel, Coral Care, and Stepful in health; Handshake, Replit, and WorkWhile in work.

Reach’s thesis-driven, sector-focused strategy has delivered both meaningful social impact and strong financial returns, demonstrating the enduring strength of companies built to improve people’s lives. The firm’s funds consistently rank in the top quartile of industry benchmarks.

Reach V closed quickly and was oversubscribed, with a broad base of returning and new investors across university endowments, pension funds, education and community organizations, family offices, and former Reach portfolio founders. Limited partners include Capricorn Investment Group, College Board, Los Angeles Fire and Police Pensions, the LEGO Foundation, and the San Francisco State University Foundation.

About Reach Capital

Reach Capital is an early-stage venture capital firm investing in exceptional founders who elevate human potential and ignite purpose across learning, health, and work. Since 2015, Reach has backed more than 180 companies expanding access to opportunity — from a child’s earliest learning experiences to pathways toward better care, meaningful work, and prosperity. Learn more at reachcapital.com.