Venture capital firm University Ventures (UV) has passed the halfway mark for its second fund, according to a regulatory filing.
University Ventures Fund II has received commitments of $188m from six LPs towards its $350m target, the filing showed.
The fund has set a minimum investment requirement of $1m and registered its first commitment in October last year.
The New York-based firm is focused on the global higher education market.
It invests in companies that work on programs, products or services that improve the accessibility and affordability of higher education or provide “a clear and indisputable return” on investment to students.
UV’s areas of interest include higher education and training for healthcare professionals, STEM programs and technology-based services.
The firm’ $100m first fund received a $50m anchor investment from German media giant Bertelsmann, although it is unclear whether the company has returned to be the main backer in the second vehicle.
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