We build & invest in
companies transforming
Higher Education

Entangled Ventures is a San Francisco‑based educational technology studio.

We bridge the gap between the academic
and startup worlds to create and support early‑stage companies focused on postsecondary education.

Incubated at Entangled Ventures
Investing & Advising

The shared foundation
for our companies


Complete company setup: HR, legal, office space, accounting


Mentorship & advice from veteran edtech entrepreneurs


Institutional network & follow-on fundraising support

What we believe:
12 themes

Education is an investment,
but most US consumers view
it as an expense.
People learn by doing
and even better by playing.
Many offer great educations, but top
universities’ biggest value is name
brand recognition and its associated
marketplace signaling.
EdTech companies are unlike consumer internet or enterprise companies; investor expectations are misaligned.
Quality education will never
be 100% virtual.
“Success” requires a baseline of intelligence and a hell of a lot of grit.
Opt-in (vs. opt-out) institutions are more motivated to improve student performance and efficiency.
The number of international students studying in the US will increase by 3x over the next decade.
Low cost, disruptive educational models are likely to start outside of the US..
As schools fail to train the future workforce properly, employers will increasingly move downstream.
Bureaucracy impedes progress; comprehensive stakeholder involvement is paramount.
Accreditation is broken and stymies innovative educational models.


Paul Freedman
Paul Freedman
Co-founder and CEO
Paul Sheppard
Paul Sheppard
Michael Horn
Michael Horn
Principal Consultant, Entangled Solutions
Mat Frenz
Mat Frenz
Managing Director, Entangled Solutions
Nick Hammerschlag
Nick Hammerschlag

Paul Freedman is the CEO and co-founder of Entangled Ventures. A longtime advocate for the transformative power of a college education, he has founded, managed, and invested in several successful education ventures.

Prior to Entangled Ventures, Paul was the Founder & CEO of Altius Education, an innovator in higher education focused on creating effective, personalized pathways to postsecondary degrees.

Prior to finishing college at the University of Chicago, Paul created Academic Engine, a college recruitment technology company that he later sold to Hobsons in 2004.

After selling the company, Paul spent 5 years as the president of Hobson’s subsidiary focused on online student recruitment technologies prior to founding Altius.

Paul Sheppard is the CFO and COO of Entangled Ventures, where he endeavors to provide scalable best practices across finance, accounting, legal, HR, sales and strategic functions for all EV’s companies.

An accomplished operating executive, private equity investor and investment banker, Paul loves to work alongside entrepreneurs to build great businesses. He's been involved with the education/corporate training sectors for over 12 years, and held senior positions at McGraw-Hill & Pearson, advised Cengage and been an ed-tech CFO of a private company.

Paul is an investor, advisor and Board member to a handful of private companies. He is a Fulbright Scholar, Wharton MBA and Cambridge University graduate. So not to be confused with Paul Freedman, Paul Sheppard's Entangled colleagues often call him Ringo or Sheps.

Michael Horn is a Principal Consultant at Entangled Solutions. He is also the co-founder of and a distinguished fellow at the Clayton Christensen Institute for Disruptive Innovation, a nonprofit think tank.

Michael is the author of the award-winning book «Disrupting Class: How Disruptive Innovation Will Change the Way the World Learns» and the Amazon bestseller «Blended: Using Disruptive Innovation to Improve Schools».

Michael serves on the board of Fidelis Education, Education Elements, Global Personalized Academics, the Silicon Schools Fund, the National Association of Independent Schools, and the Minerva Institute.

He serves as an advisor to Intellus Learning, Pedago, Knod, Everest Education, AltSchool, Degreed, the Education Innovation Advisory Board at Arizona State University, and the Hechinger Institute on Education and the Media, and he is an executive editor at Education Next.

Tech&Learning magazine named him to its list of the 100 most important people in the creation and advancement of the use of technology in education. He holds a BA in history from Yale University and an MBA from the Harvard Business School.

Mat Frenz is the Managing Director at Entangled Solutions. He is dedicated to ensuring that the work we produce at Entangled is not only best-in-class, but is also carried out with professionalism, courtesy, and integrity. Prior to joining Entangled, Mat led platform operations for GlassLab, a nonprofit educational technology organization funded by the Gates Foundation and the MacArthur Foundation.

There, he was responsible for the GlassLab Services’ product, business and partnership strategy, helping pioneer a cutting edge pedagogical approach and build a transformative platform technology.

Mat was also the founder of Precision Response, a software as a service company devoted to supporting nonprofit organizations in their efforts to extend their reach and fundraising capabilities.

Nick is the President of Entangled Ventures and the founder of Martellus Education. He was previously on the investment team at General Atlantic and OpenView Venture Partners where he focused on investments in the Internet, Technology, and Education sectors. Nick has extensive experience in scaling both software and education companies having led OpenView’s investment in Instructure (NYSE: INST) and serving on its board. Nick's current and prior board director/observer seats include: Qubed Education, Monetate, Instructure, and QTS.

Outside of the office, Nick supports the MARSOC Foundation and is a member of the Weill Cornell Children's Health Council. He graduated from Columbia University with a degree in History. Nick enjoys spending time with his wife, daughter, and their pug/shar-pei puppy named Uni.

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