New Markets Venture Partners

New Markets invests at the Series A stage and beyond, typically after a company has surpassed $2 million in revenue and demonstrated clear product/market fit. The firm requires high gross margins and a scalable business model that is already growing quickly.

The firm sources through three decades of relationships across the education and workforce sectors, an Advisory Board of over 30 operators, and a network of strategic partners including foundations, nonprofits, and governmental entities. The team also encourages founders to build relationships well ahead of a formal fundraise.

New Markets operates as a dual-bottom-line investor that requires portfolio companies to demonstrate measurable social impact alongside a path to market-rate returns. It describes itself as a venture capital firm, not a pure impact vehicle, and measures outcomes such as economic mobility for low-income, minority, and underserved populations.

The firm's investment mandate is explicitly limited to education and workforce technology. It does not invest in general enterprise SaaS, biotech, consumer marketplaces, or other sectors outside its specialist mission focused on bridging the gap from education to employment.

Mark Grovic, co-founder and general partner, leads the investment team and is the most publicly active representative of the firm. The other co-founding partner is also cited as holding 30 years of investment experience, though the firm's public materials do not name that individual prominently.