
2025 Impact Report
Elevating Human Potential and
Driving Collective Systems Change
Since founding New Markets Venture Partners in 2002, our impact-focused investment approach has been rooted in supporting innovative companies that improve life outcomes for underserved populations. The U.S. Census Bureau reports that about 40% of Americans are underserved, living at or below 200% of the federal poverty line. This metric underscores the scale of this population and the importance of enhancing access and outcomes for these learners.
Over the past 20+ years, we have invested in solutions that help marginalized individuals reach critical milestones in their personal and professional lives, aiming to unlock their full potential and promote lasting societal impact. This involves not only enhancing individual outcomes but also transforming the systems that shape opportunity, enabling people to realize their fullest selves and fostering lasting societal change through a comprehensive approach to economic mobility.
We're thrilled to present our 2025 Impact Report, which details our strategy for remediating key loss points along the education-to-employment journey, from early childhood readiness to high school graduation to job training and upskilling. For every 100 students who begin high school, only 17 ultimately secure a good-quality job. In this report, we highlight the companies and solutions that provide targeted interventions at these key loss points with the aim of improving this 17% metric for future generations. These interventions are validated by research and are improving outcomes for at-risk populations. With an emphasis on systemic change, we aim to rewire how success is defined, supported, and scaled within existing systems.
75 Million +
Individuals Served
38 Million +
At Risk
28 Million +
Adult Learners

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2025 Impact Report

OUR THEORY OF CHANGE
Making Human Potential Visible and Actionable
Through our Theory of Change, we're building a new operating system for economic mobility. Our theory of change is grounded in addressing key milestones, loss points, and barriers along the education-to-employment journey. Our 2025 Impact Report expands upon this framework by equipping systems to view learners not just as credentials, but as humans with deep potential capable of growth, deserving of recognition, and rich with untapped talent. This operating system is grounded in a three-part skills strategy designed to make human potential visible, actionable, and recognized at scale.

Visibility
Millions of Americans who are disconnected learners, justice-involved individuals, and working adults remain invisible to traditional institutions. New Markets invests in tools and platforms that translate latent potential into high-resolution, observable signals. We are not just investing in tools, but in recognition engines that rewrite the narrative of capability.

Growth
The current system fragments learning and support. Our approach is to invest in organizations that integrate contextual, continuous growth across life stages and transitions. We believe that true growth happens when development is seen as relational, not transactional, and when learners are supported in becoming their best selves, not just achieving.

Recognition
The overreliance on degrees as proxies for potential perpetuates inequity. Our theory of change elevates skills-based, employer-validated recognition. In our experience, mobility happens when contribution is recognized, not when credentials gatekeep opportunity.
Education-to Employment Systems Transformation
By investing in evidence-based, efficacious solutions that help people achieve critical life milestones, New Markets Venture Partners measurably improves economic mobility for millions of Americans.
Our investment approach has the potential to impact 120.3 million learners across the US by focusing on improving outcomes at critical points of loss within the education-to-workforce system:

We are backing scalable, system-level interventions in the K-12 education system to reduce the number of chronically absent learners and dropouts.
Learners Impacted: 11.5 M
The K-12 Education System
To encourage persistence and ROI in the postsecondary system, we are investing in solutions that enable a systems-level shift in how colleges address student perseverance and success.
Learners Impacted: 43.3 M
The Postsecondary System
The workforce system faces a skills gap issue and needs more adequately prepared learners. To address this, our investments rewire the system to prioritize skills over pedigree, improving access and driving outcomes.
Learners Impacted: 60.0 M
The Workforce System
To reduce the number of justice-impacted learners affected by structurally underdeveloped second-chance education and re-entry pathways, we are backing technology companies that align skills training to labor market demand, overcome bias in hiring, support re-entry, and shift how institutions think about workforce reintegration.
Learners Impacted: 5.5 M
The Criminal Justice System
Impact Methodology Framework
Our impact framework is built on an understanding of how individuals learn, grow, and achieve economic advancement within their environments, relationships, and systems.
Stakeholder Analysis
Does the solution enable outcomes for underserved and historically disadvantaged populations?
Theory of Change
Does the solution address a major problem preventing economic mobility for the primary stakeholders?
Outcomes Analysis
Is the solution contributing meaningfully to outcomes that are more positive than the status quo?
Scale and Systems Change
Could the solution scale and serve as infrastructure to catalyze broader systemic change as part of a collective impact ecosystem?
Impact Risk
What is the likelihood that the impact experienced will be different from the intended impact?
Secondary Stakeholders:
Employees
What impacts does the solution have on the company’s workforce?
Our Strategy Works
Proven Intervention Models
Our investing strategy addresses critical stages in the education-to-employment journey. Since inception, our portfolio companies have impacted 75M+ individuals, including 38M+ at-risk and 28M+ adult learners.


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