Global Millennial Capital (GMC), a venture capital investment manager based in Dubai, has completed the first transaction of its Millennial Consumer Innovation Fund II after becoming a major investor in a Silicon Valley-based educational tech firm.
The investment manager, established in 2016, is notable for being the first female founded and managed venture capital firm in the Gulf Cooperation Council (GCC) region.
The investment in Blue Studios, subscription-based digital education platform, is in keeping with GMC’s strategy of targeting online start-ups.
Furthermore, the Covid-19 pandemic has focused attention on the global e-learning market which is currently estimated to be worth more than US$230 billion globally, according to GMC.
GMC aims to work alongside Blue Studios founders “to support the global expansion ambitions by introducing the ed-tech marketplace into emerging markets and connecting them with local influencer and teacher talent, among other corporate development initiatives”, stated GMC.
© 2020 funds global mena