Dealflow | May 22, 2018

New Markets Venture Partners raises $68 million to bridge skills gaps

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, May 22 – New Markets Venture Partners, a Fulton, Maryland, venture firm, raised its second edtech fund from Lumina Foundation, standardized testing company ACT, Strada Education Network, insurance companies, foundations and family offices.

The venture capital firm is looking to make $1 million to $5 million investments in tech ventures bridging equity and skills gaps through digital learning, science learning, data and analytics, and workforce opportunities. New Markets Education Partners II, has already made seven investments from the fund, including science learning retention platform Motimatic and skills matching startup Pairin.

  • First fund… In 2012, New Markets raised $20 million for its first edtech fund and has backed 20 companies serving 19 million students in the past decade.