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NewSchools Venture Fund
NewSchools is a venture philanthropy that builds a better education system by connecting people, resources, and ideas. We bridge the gap between those with...
NewSchools Venture Fund
NewSchools is a venture philanthropy that builds a better education system by connecting people, resources, and ideas. We bridge the gap between those with capital and those with the courage to put that capital to work on the frontlines of education. We believe that philanthropy can advance education in a more equitable, collaborative, and courageous way—and we’re proving it every day. Learn more at www.newschools.org.
General information
Firm type
Venture Capital
Year founded
1998
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Oakland
Corporate office
2648 International Blvd Ste 301, Oakland, CA 94601
Sector focus
Frequently asked questions
Who leads NewSchools Venture Fund?
Frances Messano serves as CEO of NewSchools Venture Fund. She sets investment strategy across the firm's education-focused portfolios, which span Innovative Schools, Diverse Leaders, and Learning Solutions. Messano succeeded founder Kim Smith, who established the firm in 1998.
How does NewSchools source its investment opportunities?
NewSchools runs open, nationwide calls for applications, most recently attracting 1,600 submissions for its 2025 cohort. It also relies on a network of regional education leaders and former portfolio founders to surface high-potential ventures. The selection process combines traditional venture diligence with peer review panels composed of educators and community stakeholders.
Does NewSchools operate as a traditional venture capital fund?
No, it is structured as a 501(c)(3) venture philanthropy. While it applies venture-style selection and portfolio support, its capital comes primarily from philanthropic donations rather than limited partners seeking market-rate returns. Investments often take the form of recoverable grants and program-related investments alongside conventional equity.
What stages does NewSchools typically target?
NewSchools focuses on pre-seed, seed, and early-growth ventures. The typical check supports an organization at proof-of-concept or early-revenue stage, with follow-on capital available for scaling. It does not participate in late-stage, buyout, or public-market financing.
Which sectors does NewSchools explicitly avoid?
The firm concentrates exclusively on K-12 public education in the United States. It does not fund higher-education startups, international education initiatives, or workforce-development platforms unless they directly serve K-12 students and systems.
How does NewSchools structure its investments — equity, grants, or both?
It uses a hybrid of grants for nonprofit ventures and program-related investments for for-profit entities. This dual approach allows the firm to support charter school operators, district-level initiatives, and ed-tech startups under a unified impact thesis. All returns recycle into the fund for future deployment.
Does NewSchools maintain any separate philanthropic structures?
No, the entire entity is a philanthropic organization. Its venture fund activities sit inside the 501(c)(3), and donor contributions fund both operating expenses and deployment capital. The firm does not operate a companion for-profit vehicle or donor-advised fund.
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