Educapital Research Document
Executive Summary
Educapital is Europe's largest EdTech and Future of Work venture capital fund, managing approximately €200M in assets under management. Founded in 2017 by Marie-Christine Levet and Litzie Maarek as the first independent European venture fund dedicated to educational technology, the firm operates as a regulated impact fund with a dual focus on financial returns and measurable social impact.
Investment Thesis
Educapital invests in innovative European companies with high potential to scale and become global category leaders, founded by mission-driven entrepreneurs with strong leadership and vision. The fund explicitly focuses on companies with strong impact missions that participate in building a sustainable society at scale.
The fund's core belief is that investment in human capital is key to better prepare current and future generations for the challenges of the 21st century. They focus on two primary areas:
Education (Future of Education)
- Technology enabling pedagogy to scale and improve learning outcomes
- Digital tools for schools to provide high-quality, personalized content at scale
- Online curriculum and alternative models of education
- Continuous learning platforms for lifelong skill development
- AI-enabled assessment and grading solutions
- Tutoring, language learning, and specialized educational services
Work (Future of Work)
- Workforce development and upskilling/reskilling solutions
- Recruitment and career pathway innovation
- Employee engagement and retention technologies
- Productivity and well-being platforms
- Skills assessment and competency detection tools
- Corporate training and continuous learning
Stage and Check Size
Stage Focus: Late Seed to Series B (€10M maximum investment)
Check Size Range:
- Minimum: €2,000,000
- Maximum: €8,000,000
- Typical range: €2M-€10M per investment
The fund invests from late seed through Series B, providing growth capital while maintaining its focus on sustainable, impact-driven companies.
Fund Status and Recent Activity
Fund Information:
- Fund I: Closed 2017, deployed in 20+ companies
- Fund II: Closed May 2023 at €150M hard cap (successfully closed)
- Current Status: Actively deploying from Fund II
Recent Investments (2025-2026):
- January 2026: Edailabs (conversational language learning)
- December 2025: Edailabs €5M Series A
- November 2025: MuchBetter.ai (AI writing assistant)
- October 2025: MyEdSpace €15M fundraise
- September 2025: Edflex €18M fundraise
- September 2025: Vocal Image €3.5M (AI communication coach)
- June 2025: Knowunity €27M Series B
- Multiple portfolio companies actively fundraising and growing
The fund shows strong, consistent deployment activity with multiple follow-on investments in existing portfolio companies.
Portfolio Overview
Educapital has invested in 33+ companies across EdTech and Future of Work sectors. Notable portfolio companies include:
Notable Companies:
- 360Learning (Collaborative LMS)
- Lalilo (Adaptive learning platform, exited)
- Lunii (Screen-free storyteller)
- Labster (Immersive science learning)
- Preply (Language tutoring marketplace)
- PowerZ (Code learning bootcamp)
- FourthRev (Immersive training for events)
- Knowunity (AI tutor for students)
- MyEdSpace (Online tutoring)
- Vocal Image (AI communication coach)
- Female Invest (Financial education)
- Buddy.ai (AI language tutor for children)
- Edflex (Content curation platform)
- Nolej (Conversational AI for learning)
- Lepaya (B2B upskilling platform)
- Makers (Code learning)
- MerciApp (AI-powered writing assistant)
- Simundia (Immersive training)
- EvidenceB (AI-enabled assessment)
- Chance (Online career guidance)
- Cyberguru (Cybersecurity awareness training)
- And 11+ additional portfolio companies in various stages
Team
Founding Partners:
Marie-Christine Levet and Litzie Maarek founded Educapital in 2017 as the first independent European venture capital firm dedicated to EdTech. Marie-Christine is a French internet pioneer with 23 years in technology and previous entrepreneurial exits. Litzie brings 14 years of private equity and venture capital experience.
Investment Team: The firm has a dedicated investment team including Investment Directors Jonathan Denais and Alexandre Glaser, Senior Associate Géraldine Fillet, Associate Alexis Pavy, and CFO Maxime Lacoume.
Impact Framework
Educapital is a regulated impact fund with impact as its raison d'être. They believe social impact and financial returns are intimately correlated in a virtuous dynamic. The firm follows Global Impact Investing Network (GIIN) principles and tracks three key Impact Performance Indicators: Reach (educating the greatest number), Inclusion (fighting discrimination), and Outcome (improving learning efficacy).
Impact Credentials:
- B Corp certified
- First independent VC firm founded by two women
- Active in fostering diversity in tech
- Member of sustainable investment networks
Decision Process and Involvement
Educapital operates as a partnership-based decision model with multiple investment directors reviewing opportunities. The firm takes board seats or observer positions in investments and provides active portfolio support through industry expertise and networks. Partners maintain long-term relationships with founders.
Geographic Focus
Primary: Europe, with emphasis on France and Western European countries Secondary: Selective international investments through portfolio companies with global reach
Sector and Model Focus
Sectors:
- EdTech (K-12, higher ed, tutoring, language learning, assessment)
- Future of Work (upskilling, employee engagement, recruitment, corporate training)
Themes:
- AI-enabled learning and assessment
- Inclusive education and career development
- Sustainable workforce transformation
- Remote and hybrid work technologies
Cultural Traits
- Mission-driven with commitment to social impact
- European champions builder
- Long-term partner mentality
- Thought leadership and research-focused
- Diverse and inclusive
Notable Exits and Performance
- Lalilo: Acquired (successful exit)
- Multiple unicorns in portfolio (through co-invested funds)
- Consistent follow-on investment showing founder satisfaction
- High visibility in EdTech and Future of Work sectors
Recent Press and Recognition
- 2025: Marie-Christine Levet selected for Forbes 50 over 50
- Regular media appearances in Les Echos, Le Figaro, La Tribune
- Quarterly market insights and white papers on AI in education
- Active Medium blog (e-d-volution) with investor perspectives
Key Insights
Educapital represents a sophisticated, impact-driven institutional investor with:
- Deep expertise in both education and HR/workforce sectors
- Consistent funding and follow-on investment activity
- Strong founder relationships and portfolio company support
- European focus without isolationism
- Clear impact framework beyond financial returns
- Experienced leadership team with complementary expertise