San Francisco-based Reach Capital has announced the close of its $265 million Fund V, extending its long-running focus on founders using AI to broaden human capability. The firm says its next wave of investments will center on three areas: learning, health and work.
According to Tony Wan, head of platform at Reach Capital, the firm is looking for products that help people do more, learn faster and work smarter. The message behind the fund is clear: AI should be designed to support human flourishing, not stand in for it.
The new vehicle will invest between $1 million and $10 million per company, from pre-seed through Series A, and is expected to back about 50 startups over the next three years. Reach Capital has not yet made any investments from Fund V.
Limited partners in the fund include Capricorn Investment Group, the Los Angeles Fire and Police Pensions, the LEGO Foundation and College Board. General partner Jomayra Herrera said the raise was completed in less than six months, with most existing backers returning and a few new institutional names joining in.
The fund arrives at a moment when specialist venture firms are drawing strong attention from investors seeking focused expertise. Reach Capital's track record in education technology and impact-oriented investing has helped position it within that group.
The firm previously raised $215 million for Fund IV in 2023 and $165 million for Fund III in 2021. Its portfolio has included companies such as Replit, ClassDojo and Coral Care, reflecting a consistent interest in tools that combine innovation with practical value.
As AI moves deeper into everyday life, funds like this could help shape a future where technology becomes a stronger partner in learning, wellbeing and productivity.
