- Fund III is targeting $100m
- Vehicle has secured commitments from 27 investors
- Fund II closed on $88m in 2021
Newark Venture Partners has raised $62.1 million for its third fund, according to an SEC filing. The target is $100 million, and the hard cap is $150 million.
This represents the second close for Fund III, which began fundraising in September 2023, according to fundraising data from affiliate title Buyouts. Fund III held a first close on $60 million last year.
NVP raised $88 million for its Fund II in October 2021, Buyouts reported.
NVP hasn’t disclosed the names of any of the 27 LPs in Fund III, but Fund II investors included the Geraldine R Dodge Foundation, Otoole Family Foundation, Rutgers University and the MCJ Amelior Foundation, according to Buyouts.
Dan Borok and Vaughn Crowe serve as managing partners of NVP, which invests in enterprise software companies.
NVP’s portfolio companies include Agilis Chemicals, a Newark, New Jersey-based provider of digital customer solutions for chemical businesses, and Handspring, a New York City-based virtual mental health clinic specializing in pediatric behavioral care.
In May 2024, NVP hired Skylar Dorosin as a principal to help lead new deals for Fund III, Venture Capital Journal previously reported. Dorosin was previously a venture scout for Accel.
- Fund III is targeting $100m
- Vehicle has secured commitments from 27 investors
- Fund II closed on $88m in 2021
Newark Venture Partners has raised $62.1 million for its third fund, according to an SEC filing. The target is $100 million, and the hard cap is $150 million.
This represents the second close for Fund III, which began fundraising in September 2023, according to fundraising data from affiliate title Buyouts. Fund III held a first close on $60 million last year.
NVP raised $88 million for its Fund II in October 2021, Buyouts reported.
NVP hasn’t disclosed the names of any of the 27 LPs in Fund III, but Fund II investors included the Geraldine R Dodge Foundation, Otoole Family Foundation, Rutgers University and the MCJ Amelior Foundation, according to Buyouts.
Dan Borok and Vaughn Crowe serve as managing partners of NVP, which invests in enterprise software companies.
NVP’s portfolio companies include Agilis Chemicals, a Newark, New Jersey-based provider of digital customer solutions for chemical businesses, and Handspring, a New York City-based virtual mental health clinic specializing in pediatric behavioral care.
In May 2024, NVP hired Skylar Dorosin as a principal to help lead new deals for Fund III, Venture Capital Journal previously reported. Dorosin was previously a venture scout for Accel.
