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Chelsea Clinton has launched her own venture capital fund called Metrodora Ventures, ending speculation from earlier this summer about her potential transition into the world of startup investing.
Clinton’s office confirmed her new role as co-founder of the company, alongside Caroline Kassie, a partner at venture capital startup Blockchange Ventures. Per Metrodora’s Twitter bio, the fund will focus on “health and learning businesses,” two sectors closely tied to Clinton’s own advocacy work and professional life.
What’s more, the firm’s first publicly announced investment is Fiveable, an edtech startup that offers online classes and livestreams to students preparing for AP tests. The company, founded by 30-year-old former high school history teacher Amanda DoAmaral, aims to redress educational inequities by providing a learning space and shared community for students outside the traditional classroom.
“As we launch Metrodora Ventures, we’re thrilled to be supporting a leader like Amanda, whose passion for democratizing access to high quality education is at the core of every decision, and a company like Fiveable that fosters creativity and critical thinking for students inside and outside the classroom,” Clinton said.
Her office also confirmed to Business Insider that Metrodora has another investment in its portfolio: pregnancy support app Poppy Seed Health. Back in July, Axios reported that Clinton had committed to investing in at least two startups — Poppy Seed Health being one — and intended to roll them into Metrodora. So two of the firm’s first investments are now official. The office would not say if it had others in its portfolio, nor would it comment on how much time Clinton intends to devote to the fund.
Metrodora Ventures was first registered back in April and is still in the early stages of its development. It is named after the author of the oldest medical text known to have been written by a woman.
This is not Clinton’s first foray into tech, investing and startups. She formerly worked at the $12 billion hedge fund Avenue Capital and launched a professional development network for female entrepreneurs working in renewable energy. She also serves on the boards of IAC, Expedia Group, and VC-backed startups Clover Health and Nurx.
The fund’s focus on health and education also builds on Clinton’s own educational and professional background. She completed a Master of Public Health at Columbia University in 2010, where she now teaches as an adjunct assistant professor. She is also a vice chair of the Clinton Foundation, which focuses on improving global public health. And she’s penned several best-selling books aimed at inspiring young girls.
DoAmaral, who met Clinton this summer via Zoom through a series of mutual connections, said she wanted investors who served as “thought partners” and “soundboards” for the company.
“Chelsea was that person in ways that even were surprising,” DoAmaral told Business Insider.
For instance, when it came to the challenges students face with online learning because of the pandamic, Clinton “just really understood” how students can feel unmotivated, isolated and disconnected, said DoAmaral, who described herself as an outsider to the VC …read more
Source:: Business Insider