Mark Grovic, Founder of New Markets Venture Partners Gives us a Status Update on Investing in Edtech
- Cat Burchmore
- Jul 5, 2024
- 3 min read
Updated: Nov 7, 2024
On a search for a frank and realistic assessment on the challenges the EdTech industry is facing amidst the ongoing liquidity crisis, look no further than this conversation with long-time veteran in the industry, Mark Grovic, founder of New Markets Venture Partners.
Mark breaks down exactly at what stage of the liquidity crisis we’re in and expresses optimism for the future – whew!
The main themes that emerged in this conversation include:
An opportunity to focus on fundamental solutions and the potential for growth in areas such as teacher-focused tools, AI-powered personalized learning, and industry-recognized credentials.
Insights highlight both the difficulties and opportunities present in the current investment landscape, offering valuable guidance for edtech and workforce development stakeholders navigating this uncertain period.
Why adoption in areas like skills-based hiring and credentialing is slow even though there is big potential for growth and development.
Give this conversation a listen, and don’t hesitate to Contact Us if you have any questions, comments, or feedback.
About our guest, Mark Grovic:
Mark Grovic co-founded New Markets Venture Partners in 2003 and is a General Partner. Mark serves or has served on the Board of Directors for American Prison Data Systems, Credly (acquired by NYSE: PSO), Fishtree (acquired by Follett), Galvanize (acquired by NYSE: LRN), Graduation Alliance (acquired by KKR Global Impact), Orchestro (formerly Vision Chain, acquired by E2open), Think Through Learning (acquired by Imagine Learning), MediaSolv (acquired by Nasdaq: TASR), Lightningcast (acquired by NYSE: TWX), Moodlerooms (acquired by Blackboard) and Workspace.com. Mark also serves or has served as a board observer for Aldagen (acquired by NASDAQ: CMXI), American Honors College, Andera (acquired by NASDAQ: EPAY), App Academy, Appfluent (acquired by NASDAQ: ATTU), BioSET (acquired by Ferring Pharmaceuticals), Mantra Health, Mashable, Noodle Partners, Overture Technologies, PAIRIN, Paratek Microwave (acquired by NASDAQ: RIMM), and Questar Assessment (acquired by ETS). Mark also co-founded LifeJourney, an online educational company that allows students to test drive real life careers in specific corporations.
Mark has been investing in high growth companies since 1992. Prior to New Markets, Mark was a Portfolio Manager for the Small Enterprise Assistance Funds (SEAF), a $200 million managed emerging market venture capital company, Director of Estonia-based Baltic Small Equity Fund, a Co-Founder and Principal of the Templeton Emerging Europe Fund, as Principal of Templeton Direct Advisors, and a Portfolio Manager of Private Equities at the Calvert Group.
Mark is a Senior Advisor to University of Maryland Global Campus (UMGC), advising on corporate development and entrepreneurship, and was a Professor at the R.H. Smith School of Business at the University of Maryland, where he taught Ethics, New Venture Finance, and an award-winning Private Equity Clinic for 18 years. Previously, he was VC-in-Residence at the Smith School and Deputy Director of the Dingman Center for Entrepreneurship. He has earned three awards for his instruction at UMD and at Howard University, plus a fellowship awarded for the innovative use of technology in the classroom.
Mark helped to found and served as Board Director of the Baltimore Chapter of the Network for Teaching Entrepreneurship (NFTE), is Board Chair at Emerson Preparatory High School in Washington, D.C. and serves on the board of Partners for College Affordability and the Public Trust. He is a member of the Industry Advisory Council for the American Public University System and of the Innovation Advisory Board for the Lumina Foundation. Mark is also a member of the Washington Baltimore chapter of the Young Presidents Organization.
Mark graduated with Honors from the University of California, Berkeley, where he majored in political economies and received a Juris Doctor from Georgetown University, where his focus was in international, tax, and corporate law. Mark has also completed graduate work in accounting and finance at George Washington University and Pace University, and completed the Private Equity and Venture Capital Executive Program at Harvard Business School.
He received a certificate in teaching entrepreneurship from the Babson Symposium for Entrepreneurship Educators. Mark lives in Silver Spring, MD with his wife and two children and is a mediocre musician and triathlete.
Listen to Podcast here