# PE firms backing Edtech (2026 list)

> 32 PE firms backing Edtech, 84% active in the last 12 months. Led by Gaingels, Morgan Stanley Investment Management, TPG. Ranked by what they funded.

Source: https://millionrounds.com/lists/pe-firms-edtech (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# PE firms backing Edtech

Updated 7 November 2026

PE firms we have observed in an edtech round in the last two years.

[See all 32 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-edtech)The top 25

**32** investors on the list *-4* this week

**495** cheques in 12 months *+6%* against the market

**$9.5M** median round they joined *+19%* against the market median

**84%** wrote a cheque in 12 months

**56%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (24)

- 1 [Gaingels](https://millionrounds.com/fund/gaingels) *Deploying now* Private equity · United States **1,010** **$8M** median round **Oct 2026** last seen
- 2 [Morgan Stanley Investment Management](https://millionrounds.com/fund/morgan-stanley-investment-management) *Deploying now* Private equity · United States **288** **$56M** median round **Oct 2026** last seen
- 3 [TPG](https://millionrounds.com/fund/tpg) *Deploying now* Private equity · United States **205** **$91M** median round **Nov 2026** last seen
- 4 [K5 Global](https://millionrounds.com/fund/k5-global) *Deploying now* Private equity · United States **199** **$11M** median round **Oct 2026** last seen
- 5 [DST Global](https://millionrounds.com/fund/dst-global) *Deploying now* Private equity · United Kingdom **158** **$81M** median round **Oct 2026** last seen
- 6 [Bond](https://millionrounds.com/fund/bond) *Deploying now* Growth equity · United States **154** **$47M** median round **Sept 2026** last seen
- 7 [Eurazeo](https://millionrounds.com/fund/eurazeo) *Deploying now* Private equity · France **150** **$28M** median round **Oct 2026** last seen
- 8 [Maven Capital Partners](https://millionrounds.com/fund/maven-capital-partners) *Deploying now* Private equity · United Kingdom **129** **$3.5M** median round **Oct 2026** last seen
- 9 [Foresite Capital](https://millionrounds.com/fund/forsite-capital) *Deploying now* Private equity · United States **121** **$90M** median round **Sept 2026** last seen
- 10 [Iconiq Capital](https://millionrounds.com/fund/iconiq-capital-3) *Deploying now* Growth equity · Sri Lanka **87** **$75M** median round **Sept 2026** last seen
- 11 [YFM Equity Partners](https://millionrounds.com/fund/yfm-equity-partners) *Deploying now* Private equity · United Kingdom **66** **$6.2M** median round **Sept 2026** last seen
- 12 [Atlantic](https://millionrounds.com/fund/atlantic) *Deploying now* Private equity · Germany **53** **$35M** median round **Oct 2026** last seen
- 13 [PremjiInvest](https://millionrounds.com/fund/premji-invest) *Deploying now* Private equity · India **31** **$163M** median round **Oct 2026** last seen
- 14 [Spring Mountain Capital](https://millionrounds.com/fund/spring-mountain-capital) *Deploying now* Private equity · United States **23** **$13M** median round **Jun 2026** last seen
- 15 [BluStone](https://millionrounds.com/fund/blustone) *Deploying now* Private equity · Brazil **5** **$7.5M** median round **Jun 2026** last seen
- 16 [Echo](https://millionrounds.com/fund/echo-2) *Deploying now* Private equity · United States **5** **$7M** median round **Nov 2025** last seen
- 17 [will.i.am](https://millionrounds.com/fund/will-i-am) *Deploying now* Private equity **5** **$155M** median round **Jul 2026** last seen
- 18 [Crescera Capital](https://millionrounds.com/fund/crescera-capital) *Deploying now* Private equity · Brazil **4** **$1.2M** median round **Oct 2026** last seen
- 19 [Horizon Capital](https://millionrounds.com/fund/horizon-capital-5) *Deploying now* Private equity · United States **4** **$95M** median round **Oct 2026** last seen
- 20 [Rua Growth Fund](https://millionrounds.com/fund/rua-growth-fund) *Deploying now* Growth equity · Saudi Arabia **4** **$3M** median round **Aug 2026** last seen
- 21 [Explorer Investments](https://millionrounds.com/fund/explorer) *Deploying now* Private equity · Portugal **2** **$4.8M** median round **Jan 2026** last seen
- 22 [SEEK Investments](https://millionrounds.com/fund/seek-investments) *Deploying now* Growth equity · United States **1** **$22M** median round **Apr 2026** last seen
- 23 [Snowball Effect](https://millionrounds.com/fund/snowball) *Deploying now* Private equity · New Zealand **1** **$1.5M** median round **Oct 2026** last seen
- 24 [Aaron Bhatnagar](https://millionrounds.com/fund/aaron-bhatnagar) *Deploying now* Growth equity **1** **$2M** median round **Mar 2026** last seen
- 25 [Alexander Lund](https://millionrounds.com/fund/alexander-lund) quiet Growth equity **1** **$2.3M** median round **Nov 2025** last seen

**7 more on this list**

All 32 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000.

[See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-edtech)

## The Newest Cheques

Rounds this list's investors joined most recently

- **7** Nov **[Arka Fincap](https://millionrounds.com/company/arka-fincap)** Other *Led by* [TPG](https://millionrounds.com/fund/tpg)
- **30** Oct **[Complaion](https://millionrounds.com/company/complaion)** Other *Led by* [Eurazeo](https://millionrounds.com/fund/eurazeo)
- **30** Oct **[Bloquo](https://millionrounds.com/company/bloquo)** Seed *Led by* [Crescera Capital](https://millionrounds.com/fund/crescera-capital)
- **29** Oct **[Bites](https://millionrounds.com/company/bites)** Series A · $40M *With* [Horizon Capital](https://millionrounds.com/fund/horizon-capital-5)
- **25** Oct **[Kalshi](https://millionrounds.com/company/kalshi)** $1B *With* [Morgan Stanley Investment Management](https://millionrounds.com/fund/morgan-stanley-investment-management)
- **23** Oct **[Cygrid](https://millionrounds.com/company/cygrid)** Pre-seed · $3M *Led by* [Atlantic](https://millionrounds.com/fund/atlantic)

## Stages This Year

476 rounds

- Venture **21%**
- Series A **14%**
- Seed **13%**
- Debt **10%**
- Series B **9%**
- Other **32%**

## What They Backed

Sectors, last 12 months

- AI **177**
- Biotech **45**
- Fintech **42**
- Aerospace & Space **33**
- Healthcare **28**
- Financial Services **25**

## Cheques by Quarter

Led Joined

111 Q1 25

108 Q2 25

131 Q3 25

164 Q4 25

158 Q1 26

161 Q2 26

91 Q3 26

23 Q4 26

The last bar is the quarter still running.

## Lists Like This

- [VC firms backing AI 4,329](https://millionrounds.com/lists/vc-firms-ai)
- [VC firms backing Fintech 1,856](https://millionrounds.com/lists/vc-firms-fintech)
- [VC firms backing Big Data & Analytics 1,248](https://millionrounds.com/lists/vc-firms-big-data)
- [VC firms backing Biotech 1,207](https://millionrounds.com/lists/vc-firms-biotech)
- [VC firms backing Robotics 1,098](https://millionrounds.com/lists/vc-firms-robotics)
- [VC firms backing Construction 1,025](https://millionrounds.com/lists/vc-firms-construction)
- [VC firms backing Energy 998](https://millionrounds.com/lists/vc-firms-energy)
- [PE firms backing AI 956](https://millionrounds.com/lists/pe-firms-ai)
- [VC firms backing Cybersecurity 950](https://millionrounds.com/lists/vc-firms-cybersecurity)

[All investor lists *→*](https://millionrounds.com/lists)

## Reading for founders in education

- A More Beautiful Question: The Power of Inquiry to Spark Breakthrough Ideas Warren Berger · 2014 3.95 from 6,643 ratings on Goodreads Education Innovation Company building About the book In this groundbreaking book, journalist and innovation expert Warren Berger shows that one of the most powerful forces for igniting change in business and in our daily lives is a simple, under-appreciated tool, one that has been available to us since childhood.… On AmazonListen on Audible
- Blended: Using Disruptive Innovation to Improve Schools Michael B. Horn · 2014 3.85 from 460 ratings on Goodreads Education Moats and competition Innovation About the book Navigate the transition to blended learning with this practical field guide Blended is the practical field guide for implementing blended learning techniques in K-12 classrooms. A follow-up to the bestseller Disrupting Class by Clayton M. Christensen, Michael Horn, and Curtis… On AmazonListen on Audible
- Leaving Microsoft to Change the World: An Entrepreneur's Odyssey to Educate the World's Children [John Wood](https://millionrounds.com/person/john-wood) · 2006 4.10 from 4,682 ratings on Goodreads Education Company building About the book John Wood discovered his passion, his greatest success, and his life's work, not at business school or leading Microsoft's charge into Asia in the 1990s, but on a soul-searching trip to the Himalayas. Wood felt trapped between an all-consuming career and a desire to do something… On AmazonListen on Audible[Author's Podcasts](https://millionrounds.com/person/john-wood#podcasts)
- Now You See It: How the Brain Science of Attention Will Transform the Way We Live, Work, and Learn Cathy N. Davidson · 2011 3.83 from 1,257 ratings on Goodreads Education About the book A digital innovator shows how we can thrive in the new technological age. When Cathy Davidson and Duke University gave free iPods to the freshman class in 2003, critics said they were wasting their money. Yet when students in practically every discipline invented academic uses… On AmazonListen on Audible

More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&industry=education).

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about PE firms backing Edtech

### Who are the most active PE firms backing Edtech?

By cheques observed, the most active are Gaingels, Morgan Stanley Investment Management, TPG, K5 Global and DST Global.

### How many PE firms backing Edtech are there?

32 are on record. 84% made an investment in the last 12 months and 56% have led a round.

### Which stages do PE firms backing Edtech back?

Of the rounds with a named stage in the last 12 months, mostly Series A (22%) and Seed (20%).

### How big are the rounds PE firms backing Edtech join?

The typical (median) round among the leading investors here is $13M.

### Which sectors do PE firms backing Edtech back most?

In the last 12 months, mostly AI, Biotech and Fintech.

### Which PE firms backing Edtech lead the most rounds?

DST Global (12 led), TPG (11 led) and Bond (11 led).

### Where are PE firms backing Edtech based?

Among the most active, most are based in the United States (10), the United Kingdom (3) and Brazil (2).

### What have PE firms backing Edtech invested in recently?

Recent rounds include Arka Fincap (Other, Nov 2026, with TPG), Complaion (Other, Oct 2026, with Eurazeo) and Bloquo (Seed, Oct 2026, with Crescera Capital).

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)