# Edovate Capital

Edovate Capital is a Private Equity based in Denver, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Denver, United States
- **Region:** North America
- **Address:** Denver, CO, United States
- **Founded:** 2013
- **Assets under management:** Undisclosed
- **Website:** www.edovatecapital.com
- **LinkedIn:** https://www.linkedin.com/company/edovate-capital

## Regulatory record

- **Reports private funds:** No

## About

Edovate Capital invests in education technology ventures. The firm collaborates with social entrepreneurs to fund and support companies addressing education challenges. Based in Denver, Colorado, Edovate Capital invests in companies developing solutions for school systems, marginalized students, and social-emotional learning.

## Sectors

- Education
- Enterprise Software

## People

- Graham Forman — Founder and Managing Director
- Ian Connell — Senior Advisor

## Questions

### Who runs investment decisions at Edovate Capital?

Graham Forman, Founder and Managing Director, is the primary decision-maker. He built his career across education policy, K12 SaaS operations, and venture investing. His last operational role was leading sales and business development at Netchemia before its 2015 acquisition by PeopleAdmin, backed by Vista Equity Partners. Senior Advisor Ian Connell contributes deal evaluation and portfolio support with experience from Kapor Capital and Techstars.

### How does Edovate Capital source its deals?

The firm rarely considers unsolicited proposals. Instead, it relies on a deep network of K12 school and policy leaders, SaaS operators, and industry partners built over Forman's two-decade career in the sector. Connell's connections through venture philanthropy and school-launch nonprofits extend that reach. This relationship-driven model is designed to surface founders who understand district procurement realities.

### What investment stage does Edovate target?

Edovate focuses on early-stage companies — seed and startup phases — that have a product in market and need help scaling distribution inside school districts. It also supports later growth rounds for existing portfolio companies, but the core mandate is providing first- or second-check capital when traditional VCs demand growth rates that K12 sales cycles cannot deliver.

### Does Edovate invest outside of K12 education?

No. The firm's entire mandate is K12 education technology. Forman and Connell have built careers in this specific vertical, and the firm's operating support — go-to-market strategy, district introductions, procurement navigation — is tailored exclusively to the K12 buyer ecosystem.

### What is the '100 by 40' commitment?

It is Edovate's stated mission to invest in 100 sustainable K12 edtech companies by the year 2040. Forman frames this as a 30-year commitment starting from the firm's founding, designed to expand the supply of aligned capital for education entrepreneurs and build a portfolio of lasting social impact alongside financial returns.

### How does Edovate support portfolio companies beyond a check?

The firm provides what it calls 'counsel' and 'connections' — hands-on help with K12 go-to-market strategy, introductions to district decision-makers, and navigation of complex procurement processes. Forman's background as a SaaS sales leader inside the sector is central here: the firm acts as a de facto growth team for founders who lack K12 distribution experience.

## Related profiles

- [eDot Invest](https://altss.com/profile/edot-invest)
- [EdTech Hub Ventures](https://altss.com/profile/edtech-hub-ventures)

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Last updated: 2026-06-03T20:00:00.000Z

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