Sesame Workshop Launches Venture Capital Fund
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Staying true to its founding roots of educating children, Sesame Workshop, the non-profit organization that brought Sesame Street to the screens, has introduced Sesame Ventures, a venture capital arm that will invest in startups geared towards children’s educative products and services. Partnering with VC firm Collaborative Fund -which has backed startups like AltSchool and Lyft- the fund, which is called Collab+Sesame, described its focus as “childhood development,” with plans to invest up to US$1 million in early-stage startups and support in future rounds of financing.
Besides financial backing, startups will also have the opportunity of working with Sesame Workshop and utilize its resources of expertise and research of children and families, as well as networks of similar organizations and international reach.
And ‘treps, Sesame Workshop will also “consider” letting startups utilize Sesame Street characters too (according to Wired), if that helps. So what’s the eligibility for prospective startups? According to the website’s release, as long as it aligns with Sesame Workshop’s mission of “helping kids grow smarter, stronger, and kinder,” startups can be focused on “education, media, family development, social and culture development, food, health and wellness.”
The announcement followed six months after it took on a five-year deal with HBO to get back on its feet after its loss in recent years ($11 million in 2014), giving it the market opportunity in mobile devices. Given the years it has upholding its mission, it seems Sesame Workshop is now stepping up its outlets to help kids grow smarter.