Reach Capital raises $265M Fund V to back AI founders building to ‘expand human potential’

Reach Capital announced Tuesday the close of a $265 million Fund V. The thesis of the 11-year-old San Francisco firm is to back founders building AI applications that can “expand human potential,” Tony Wan, head of platform at Reach Capital, told TechCrunch. In practice, he added, that means looking at founders building across three areas: learning, health, and work. “We believe AI should serve human flourishing, not replace it,” Wan said. The firm’s previous investments include Replit, ClassDojo, and Coral Care.