Newark Venture Partners (NVP) is a global

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...

and early stage accelerator in

Newark, New Jersey Newark ( , ) is the most populous city in the U.S. state of New Jersey and the seat of Essex County and the second largest city within the New York metropolitan area.startups. The NVP Labs are located at facilities of the

Rutgers Business School Rutgers University (; RU), officially Rutgers, The State University of New Jersey, is a public land-grant research university consisting of four campuses in New Jersey. Chartered in 1766, Rutgers was originally called Queen's College, and was ...

One Washington Park One Washington Park is a high rise office building located on Harriet Tubman Square at 1 Washington Street in Newark, New Jersey. Among the tallest buildings in the city, it is best known as the home of Rutgers Business School, Amazon's Audibl ...

History

NVP Fund I

In July 2015, Don Katz and other co-founders announced a formation of Newark Venture Partners through its sister entity Newark Venture Accelerator, LLC. with a target of $50 million to fund technology startups in Newark. The plan was to accept applications from startup founders in October 2015. By May 2016, it raised $23 million from

Audible Audible may refer to: * Audible (service), an online audiobook store * Audible (American football), a tactic used by quarterbacks * ''Audible'' (film), a short documentary film featuring a deaf high school football player * Audible finish or rush ...

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Dun & Bradstreet The Dun & Bradstreet Corporation is an American company that provides commercial data, analytics, and insights for businesses. Headquartered in Jacksonville, Florida, the company offers a wide range of products and services for risk and financia ...

and other backers. The fund intended to invest $10 million per year for 5 years. In 2016, the fund announced its inaugural lab accelerator class. NVP provided one-year free office space, professional development and an investment up to $100K to each of its lab class companies. The first lab class consisted of 9 companies out of 650 applicants. NVP planned to support two lab classes each year. By October 2021, NVP invested $42 million in 97 portfolio companies., including AeroFarms.

NVP Fund II

NVP Fund II has a target at $100 million. Af of August 2021, it closed on $73.6 millions with 35 backers including Audible, Dun & Bradstreet, Fidelco Realty Group,

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RWJBarnabas Health RWJBarnabas Health is a network of independent healthcare providers in New Jersey, based out of West Orange. Members include academic centers, acute care facilities, and research hospitals. The goals of the network include collaboration on educ ...

TD Bank, N.A. TD Bank, N.A. is an American National Association (Banking)#United States, national bank and the United States subsidiary of the multinational TD Bank Group (Canada), TD Bank Group. It operates primarily across the East Coast of the United State ...

, and

New Jersey Economic Development Authority The New Jersey Economic Development Authority (EDA) is an independent government entity in the U.S. state of New Jersey dedicated to broadening and expanding the state's economic base. The EDA creates public-private partnerships to provide access ...

. The NVP Fund II started its investment in 2021.

References

{{reflist Venture capital firms of the United States Financial services companies based in New Jersey Startup accelerators Companies based in Newark, New Jersey Financial services companies established in 2015