Inside Reach Capital’s $265M Fund V with Jomayra Herrera

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There is a unique form of enjoyment that you get from working with early stage founders that are figuring it out in the moment and are constantly learning and pivoting and figuring and changing, and that's where we get a ton of our energy. Growth stage, I think there's a lot of really interesting work that's happening there, but I just don't think it fulfills us in the same way. And so that's why we decided we're gonna grow incrementally and really just double down on the areas where we know we can perform well.

[upbeat music] Welcome to EdTech Insiders, the top podcast covering the education technology industry. From funding rounds, to impact, to AI developments across early childhood, K-12 higher ed and work, you'll find it all here at EdTech Insiders.

Remember to subscribe to the pod, check out our newsletter and also our event calendar. And to go deeper, check out EdTech Insiders+, where you can get premium content, access to our WhatsApp channel, early access to events, and back channel insights from Alex and Ben. Hope you enjoy today's pod. [upbeat music] Hello, EdTech Insider listeners. We are coming to you with our favorite longtime guest, Jomaira Herrera. I think this might put you at record number of appearances. It's like you and Matt Tower, neck and neck. Welcome, Jomaira Her- Herrera. I'm gonna give your intro, but first I just wanna say welcome to the pod.

Thank you for having me. I'm super excited to be here.

So Jomaira is a partner at Reach Capital, an early stage venture fund investing in learning, health, and work. She started her career as an operator at an ed tech startup called Bloomboard, and eventually started a career in venture capital at Emerson Collective, where we first met, and Laurene Powell Jobs' family office. And before Reach, she was at Cowboy Ventures, where s- she spent most of her time working with consumer internet and marketplace companies. At Cowboy and Emerson Collective, Jomaira championed investments in Contra, Career Karma, Handshake, and Guild. And at Reach, she works closely with Stepful, Workwhile, Merit Health, Claire Health, Tenor, KaiPod, Manifold, and more. As always, welcome to the pod. It's so great to have you here today.

I'm super excited for this conversation.

Yeah, and we- we're so excited to talk to you always, but especially today 'cause you are bearing really amazing news. You recently announced Fund V, marking an incredible journey from a $50 million learning focused fund to now more than $1 billion in assets under management, AUM Fund V, and Reach has been really successful in the space. Tell us about the fund and your lessons along the way, and how you've gotten to this amazing fifth fund for ed tech and health tech.

Tha