With a revamped team and renewed focus on its core business, Prodigy Education co-founder and co-CEO Rohan Mahimker says the EdTech firm is ready to grow again.
Georgian closes $1.02 billion USD alignment fund
Toronto venture capital firm Georgian Partners has closed its new Alignment Fund I, pulling in $1.02 billion USD.
As reported by BetaKit in February, SEC filings made just before the end of 2020 indicated the launch of the new fund. The $1.02 billion recently closed and was raised as a special purpose vehicle with a mandate to invest in existing Georgian portfolio companies, according to The Globe and Mail. Georgian confirmed the close of the fund to BetaKit, noting it took place in late March.
The report indicated Georgian plans to use the capital on four portfolio companies: Toronto-based EdTech startup Top Hat, United States-based customer data management company Tealium, New York’s WorkFusion and stock exchange IEX Group. A longtime Top Hat investor, Georgian committed $130 million USD of the Alignment Fund to TopHat in February.
Top Hat co-founder Mike Silagadze joins Ripple Ventures as venture partner betakit.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from betakit.com Daily Mail and Mail on Sunday newspapers.