New Markets Venture Partners

New Markets Venture Partners (NMVC) is a leading edtech and workforce-technology venture capital firm founded in 2002 and based in Fulton, Maryland, in the Washington D.C. metro area. The firm was co-founded by Mark Grovic, Donald Spero, and Robb Doub, with Jason Palmer now serving as General Partner alongside Grovic. NMVC is a growth-stage, double-bottom-line investor focused on scaling transformative technology companies that improve education and workforce outcomes while generating strong financial returns. The current fund is approximately $68 million, and the firm leads rounds — most recently leading FamilyWell Health's $8 million Series A alongside .406 Ventures in 2025. NMVC typically writes checks of $100,000 to $5 million at Series A and Series B, targeting companies that have demonstrated product-market fit. Over more than 20 years and roughly 67 core investments, the team has generated $3.3 billion in enterprise value, impacted more than 75 million lives including 38 million at-risk learners and 28 million adult learners, and completed 21 realized exits including 1 IPO and 30 acquisitions — notable exits include PowerSchool, Galvanize, and Kroll Bond Rating Agency. Three portfolio companies — Mursion, Noodle, and Orijin — made Time magazine's Top EdTech Companies list. Recent new investments include KidzToPros (Series B, February 2025), FamilyWell Health, and Knack. NMVC's Advisory Board, led by Amy Kardel, brings together more than 30 education and workforce operators and thought leaders. The firm's two-decade track record in a sector that demands both mission alignment and financial discipline makes it one of the most credentialed edtech investors in the United States.