Newark Venture Partners Reaches Second Close for Fund III

Newark Venture Partners has held its second close for Fund III, marking a major milestone in its fundraising efforts. The firm, which invests in early-stage startups, has exceeded its initial target and is set to deploy the capital in promising companies. Fund III will focus on supporting high-growth businesses in the fintech, healthcare, and AI sectors, among others. The first close was held last year, and the firm plans to hold a final close later this year.

Newark Venture Partners (NVP), a prominent venture capital firm focusing on early-stage startups, has achieved a significant milestone with the second close of its third fund (Fund III) [1]. The firm has surpassed its initial target, indicating strong investor confidence and a pipeline of promising companies.

Founded in 2015, NVP has established itself as a value-add investor by empowering its founders, partners, and the community [1]. Over the past two years, NVP has launched its second fund, which closed at approximately $90 million, and invested in several innovative companies, including Podsights (acquired by Spotify), Optimal Dynamics (which raised a $33 million Series B), and Handspring (recognized as a top healthcare startup by Business Insider) [1].

With the second close of Fund III, NVP is poised to continue its support of high-growth businesses in sectors such as fintech, healthcare, and artificial intelligence [1]. These thematic focus areas position NVP to make a significant impact in high-stakes industries, where its investments can create meaningful value for its portfolio companies.

NVP's Managing Partner, Vaughn Crowe, shared his excitement about the firm's recent achievements and its future plans, stating, "As we begin raising for our third fund this year, we are seeking out the most dynamic and innovative founders at the seed stage that are solving issues for big corporations" [1].

NVP's success is not only attributed to its value-add approach but also to the strong relationships it has cultivated with its Limited Partners (LPs) [1]. These relationships have proven instrumental in vetting, guiding, and connecting founders on their journeys, enabling NVP to access critical industry data points and deep corporate expertise.

Sources:
[1] Vaughn Crowe, 2-Year Anniversary at NVP, Newark Venture Partners Blog, https://www.newarkventurepartners.com/blog/vaughn-crowe-2-years-with-nvp/