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New Markets Venture Partners (NMVP) is a growth-stage venture capital firm founded in 2002 and headquartered in Fulton, Maryland. The firm is recognized as one of the longest-running dedicated edtech VC funds in the United States. NMVP focuses on investing in education and workforce technology companies that aim to improve educational and employment outcomes. The firm has raised five funds since its inception, with the latest, New Markets Education Partners III, LP, closing at over $160 million in February 2023.
As of late 2025, NMVP manages a diverse portfolio of 67 companies, generating over $3.3 billion in shareholder value. The firm emphasizes double-bottom-line investing, targeting both financial returns and measurable social impact. NMVP's team includes experienced professionals with backgrounds in education and workforce investing, and they leverage a network of over 30 thought leaders in these sectors to support their portfolio companies.
New Markets Venture Partners invests primarily in growth-stage companies within the education and workforce technology sectors. Their investment strategy encompasses a range of stages, including Series A, Series A+, Series B, Series B+, Series C, Series C+, and growth equity. NMVP typically invests in companies that have demonstrated product/market fit and scalable growth potential, with check sizes ranging from $100,000 to $5 million.
The firm targets critical gaps in the education and labor markets, focusing on areas such as 21st Century Skills, Workforce Preparation, Alternative Pathways, and the Future of Work. NMVP seeks management teams with a proven track record, sustainable competitive advantages, and disruptive technologies. They prefer revenue-generating companies with a path to $50 million to $200 million in revenue and profitability within three years of investment.
New Markets Venture Partners has invested in a total of 67 portfolio companies, with notable exits including:
Other significant portfolio companies include:
Across its portfolio, NMVP has generated over $3.3 billion in shareholder value and reached more than 75 million individuals, including over 38 million at-risk learners and 28 million adult learners.
Robb Doub: Co-Founder and General Partner; has extensive experience in venture capital and education technology investing.
Mark Grovic: Co-Founder and General Partner; brings over 30 years of experience in edtech investing and is a recognized media commentator in the field.
Juan Zavala: Partner; focuses on identifying and supporting innovative education and workforce technology companies.
Sneha Kasuganti: Principal; involved in sourcing and evaluating investment opportunities within the firm's focus areas.
Becky Spezzano: Vice President of Finance and Operations; oversees financial management and operational strategies for the firm.
Mark Chernis: Operating Partner; provides operational support and strategic guidance to portfolio companies.
Olivia Lowe: VP of Marketing and Investor Relations; manages communications and relationships with investors and stakeholders.
To pitch New Markets Venture Partners, founders should visit their website and submit their pitch deck through the provided contact forms. The deck should include a clear overview of the business model, market opportunity, and traction. NMVP prefers to meet with founders before they are actively raising funds, allowing for a more in-depth discussion about the business and its potential.
Response times may vary, but founders can expect to hear back within a few weeks. NMVP values warm introductions, so leveraging connections within their network can enhance the chances of a successful pitch.
In February 2023, New Markets Venture Partners closed its latest fund, New Markets Education Partners III, LP, at over $160 million, which was oversubscribed. This fund marks the firm's fifth since its founding in 2002.
As of late 2025, NMVP has made a total of 95 investments across its portfolio, with 67 active companies. The firm has achieved notable exits, including the IPO of PowerSchool and the acquisition of Galvanize by K12 for $165 million.
New Markets Venture Partners continues to focus on generating shareholder value, having returned over $100 million to limited partners from 10 exits in a three-year period.
What are New Markets Venture Partners' investment criteria?
NMVP invests in growth-stage education and workforce technology companies, primarily at the Series A stage and beyond. They look for companies with demonstrated product/market fit, scalable growth, and a strong value proposition. The firm prefers management teams with a successful track record and sustainable competitive advantages.
How can founders apply or pitch to New Markets Venture Partners?
Founders can pitch to NMVP through their website. They recommend including a clear business model, market opportunity, and evidence of traction in the pitch deck. NMVP typically meets founders before they are actively raising funds.
What makes New Markets Venture Partners different from other VC firms?
NMVP focuses on double-bottom-line investing, aiming for both financial returns and measurable social impact in education and workforce outcomes. Their extensive network of education and workforce thought leaders provides additional support to portfolio companies.
What is the geographic scope of New Markets Venture Partners?
NMVP primarily invests in U.S.-based startups, focusing on companies that address critical gaps in the education and labor markets.
What is the typical check size for investments?
New Markets Venture Partners typically invests between $100,000 and $5 million in their portfolio companies, depending on the stage and needs of the business.
What kind of post-investment involvement does New Markets Venture Partners have?
NMVP adds value through strategic guidance, leveraging their network, and facilitating connections to enhance growth and impact for portfolio companies. They assist with challenges related to scaling, product development, marketing, hiring, fundraising, acquisitions, and exit strategies.
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