# New Evolution Ventures

New Evolution Ventures is a Venture Capital based in Lafayette, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Lafayette, United States
- **Region:** North America
- **Address:** Lafayette, CA, United States
- **Founded:** 2008
- **Assets under management:** Undisclosed
- **Website:** newevolutionventures.com
- **LinkedIn:** https://www.linkedin.com/company/new-evolution-ventures

## Regulatory record

- **Reports private funds:** No

## About

New Evolution Ventures (NeV) was founded in 2008 by Mark Mastrov, Jim Rowley, and Mike Feeney. The firm specializes in acquiring, developing, and managing domestic and international fitness businesses. NeV has a 20-year track record of delivering returns on investment, with operations spanning over 20 countries and hundreds of facilities.

## Sectors

- Health & Wellness
- Fitness
- Consumer

## People

- Mark Mastrov — Co-Founder
- Jim Rowley — Co-Founder & CEO

## Questions

### Who runs investment decisions at New Evolution Ventures?

Co-founders Mark Mastrov and Jim Rowley lead investment decisions. Mastrov brings the founder-operator perspective from building 24 Hour Fitness into a global chain; Rowley, the CEO, handles the firm's financial structuring and portfolio management. The two have worked together since their 24 Hour Fitness days.

### What is NeV's relationship to 24 Hour Fitness?

NeV is a separate entity founded by 24 Hour Fitness founder Mark Mastrov after he sold the company. There is no ongoing corporate relationship between NeV and 24 Hour Fitness. Mastrov's operational experience from scaling 24 Hour Fitness informs NeV's investment thesis but the firms are legally and financially distinct.

### Which geographies does NeV target?

NeV invests across North America, Europe, and the Middle East. Past investments include US-based chains like Crunch Fitness and UFC Gym, as well as international operators such as Calypso Fitness in Poland. The firm has also explored partnerships in the Gulf region.

## Related profiles

- [New Europe Ventures](https://altss.com/profile/new-europe-ventures)
- [New Frontiers Capital](https://altss.com/profile/new-frontiers-capital)

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

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