By guest blogger Kevin Connors
Apollo Education Group, launched in 1973 with a mission to help working adults become lifelong learners, eventually became an owner of various higher education enterprises, including Carnegie Learning and the University of Phoenix.
But 2015 brings a new endeavor for Apollo, as the company recently formed Apollo Education Ventures, a venture capital platform with other partners from which they will invest in education startups. They will look to support entrepreneurs who are innovating in higher education, high school pathways, professional development, human capital management, and other segments of the education market, according to a recent statement.
Apollo believes their investment goes beyond just financial capital, however. The company hopes to offer budding startups experience, advising, and opportunities for business development through Apollo’s global network of relationships in education.
Apollo Education Ventures has also partnered with Touchdown Ventures, another newly formed venture capital firm. Touchdown will support Apollo by helping them “evaluate, make, and monitor investments,” Rick Flynn, President of Apollo Education Ventures, told the Phoenix Business Journal.
Education companies from the early to late stages will be eligible for the investments, which will generally be in the $1 million range. Companies in the concept stage will not be considered.
Although their partnership is relatively young, Apollo Education Ventures has been fairly active. Flynn says that some deals are already in the evaluation stage and that they have been reaching out to potential investees, as well.
For more news on mergers, acquisitions, and venture capital in education, follow Marketplace K-12’s “K-12 Dealmaking” series.