Reach Capital closed Fund V with $265 million, targeting AI founders whose work expands human potential in learning, health, and workplace productivity. The San Francisco-based firm, now in its 11th year, plans to deploy checks between $1 million and $10 million across roughly 50 companies over the next three years, spanning pre-seed to Series A stages.
The fund’s investments will align with Reach’s long-standing focus on edtech and impact-driven ventures, including past bets like Replit, ClassDojo, and Coral Care. Limited partners include Capricorn Investment Group, the Los Angeles Fire and Police Pensions, the LEGO Foundation, and College Board. General partner Jomayra Herrera noted the fundraising process took less than six months, with most existing LPs doubling down and new marquee backers joining.
Reach’s strategy reflects a broader shift in venture capital toward specialist funds, as generalist firms struggle to attract limited partners amid a barbell-shaped fundraising market. The firm raised $215 million for Fund IV in 2023 and $165 million for Fund III in 2021, with its most recent exit in June when Superhuman acquired GPTZero, an AI-detection startup Reach had backed.
