Two years ago, Jobs for the Future (JFF) launched JFFVentures, a venture arm dedicated to supporting innovative employment tech. Now, they’ve revealed their second fund, JFFVentures Fund II, with a target of $50 million, supported by key partners.
The New Fund:
JFFVentures Fund II, bolstered by contributions from the Autodesk Foundation, Workday Foundation, and American Council on Education, focuses on HR, education,
and workforce solutions that empower economic mobility for workers in low to middle-wage jobs. Managing partner Sabari Raja shares insights on their investment strategy, aiming to back 30 to 35 pre-seed and seed-stage startups.
The Landscape:
The rise of impact-focused VC funds like JFFVentures Fund II reflects a growing trend in social, economic, and environmental change-driven investments. With the impact market valued at $1.2 trillion, there’s immense potential for such funds, despite challenges.
Navigating Challenges:
Impact funds face hurdles in measuring real-world impacts, offering competitive returns, and establishing track records. JFFVentures Fund II addresses these challenges by leveraging JFF’s extensive network and expertise in solving critical workforce problems.
Focus on Diversity:
Diversity is at the core of JFFVentures Fund II, with a commitment to economic advancement for underrepresented populations. Managing partner Yigal Kerszenbaum emphasizes the fund’s diverse team and legal structure to ensure alignment with its mission.
Balancing Returns and Impact:
Despite concerns over returns, JFFVentures Fund II remains optimistic, citing the success of its inaugural fund. By investing in startups globally and focusing on measurable outcomes, they aim to set a gold standard for nonprofit-private partnerships.
Conclusion:
JFFVentures Fund II emerges as a beacon for underrepresented founders, offering not only financial support but also a robust ecosystem for growth. With a clear focus on impact and diversity, it strives to redefine success in the venture capital landscape.
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