Follett Launches $50 Million Education-Focused Venture Fund
Follett Corporation today announced the establishment of the Follett Knowledge Fund, a capital funding source for new technologies that have the potential to improve and even disrupt the way educational content is delivered and consumed. Follett has committed $50 million to the fund, which complements and extends the company’s extensive portfolio of digital solutions and tools.
“Follett has a long track record of investing in and introducing new technologies to the education marketplace, whether it be in K-12 classrooms, on college campuses or wherever learning takes place,” said Mary Lee Schneider, President and CEO, Follett Corporation. “The Knowledge Fund will enable us to identify and invest in early-stage technologies that will make educational materials more accessible and affordable to students and educators alike.”
The fund will be co-managed by Atrium Capital, based in Menlo Park, Calif. Atrium will partner with Follett to identify, analyze and manage investment opportunities for the fund and serve as an adjunct to Follett’s business development activities in the emerging technology space.
About Gary Price
Gary Price (firstname.lastname@example.org) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at Ask.com, and is currently a contributing editor at Search Engine Land.