Ted Mitchell, the chief executive of the NewSchools Venture Fund, was nominated in October by President Obama to become the Under Secretary of the Department of Education.
As the administration continues to reshuffle its team, and confront new regulatory challenges, some view Mitchell’s nomination as a move towards greater privatization. In the coming months, the Department of Education will release “gainful employment” rules to rein in for-profit colleges, an experiment in proprietary education that many see as an unmitigated disaster.
As head of the NewSchools Venture Fund, Mitchell oversees investments in education technology start-ups. In July, Zynga, the creators of FarmVille, provided $1 million to Mitchell’s group to boost education gaming companies. Mitchell’s NewSchool Venture Fund also reportedly partners with Pearson, the education mega-corporation that owns a number of testing and textbook companies, along with one prominent for-profit virtual charter school, Connections Academy.
Jeff Bryant, a senior fellow with the Campaign for America’s Future, says it seems likely that Mitichell will “advocate for more federal promotion of online learning, ‘blended’ models of instruction, ‘adaptive learning’ systems, and public-private partnerships involving education technology.”
Mitchell did not respond to TheNation.com’s request for comment*.
His ethics disclosure form shows that he was paid $735,300 for his role at NewSchools, which is organized as a non-profit. In recent years, he has served or is currently serving as a director to New Leaders, Khan Academy, California Education Partners, Teach Channel, ConnectED, Hameetman Foundation, the Alliance for College-Ready Public Schools, Silicon Schools, Children Now, Bellwether Partners, Pivot Learning Partners, EnCorps Teacher Training Program, the National Alliance for Public Charter Schools, and the Green DOT Public Schools.
In addition, Mitchell serves as an adviser to Salmon River Capital, a venture capital firm that specializes in education companies. Mitchell sits on the board of Parchment, an academic transcript start-up that is among Salmon River Capital’s portfolio.
Salmon River Capital helped create one of the biggest names in for-profit secondary education, Capella University. “As a foundational investor and director, [Salmon River Capital’s] Josh Lewis made invaluable contributions to Capella’s success. From leading our landmark financing in 2000, when Capella was a $10 million business operating in a difficult environment, through a successful 2006 IPO and beyond, he proved a great partner who kept every commitment he made,” reads a statement from Steve Shank, founder of Capella.