JFFVentures, a nonprofit organization, is leading the charge in investing in innovative solutions that promise upward mobility for workers stuck in low-wage jobs. Their latest fund, JFFVentures Fund II, is setting sights on empowering underrepresented founders with groundbreaking ideas that can transform the HR, education, and workforce sectors.
What’s Happening & Why This Matters
JFFVentures Fund II is targeting a substantial $50 million target. With $15 million already secured, this fund (supported by Autodesk Foundation, Workday Foundation, American Council on Education). This initiative is not just about financial investments; it’s about societal impact. The fund targets startups that can contribute to significant change, with plans to invest in 30 to 35 pre-seed- and seed-stage startups. It’s a movement towards creating a more inclusive, equitable business ecosystem that recognizes and amplifies underrepresented voices.
Impact investing is a burgeoning field with the private market soaring to approximately $1.2 trillion at the end of 2021. However, measuring real-world impacts and ensuring viable returns remains a challenge. JFFVentures Fund II aims to leverage JFF’s expansive network to guide these startups towards achieving both financial success and tangible societal impact. The team’s diversity is a testament to its commitment with a significant focus on supporting women, disabled workers, immigrants, aging populations, and communities of color.
“We’re honed in on the journey of the worker, investing in novel technologies that provide them the education, access to quality jobs, tools for employers to support their career growth, and wrap-around services that help them outside of work so they can thrive at work.”
Sabari Raja, Managing Partner at JFFVentures.
TF Summary: What’s Next
Jobs for the Future’s latest fund represents an important moment for impact investing. By setting rigorous benchmarks for founder diversity and allocating resources towards achieving social impact goals, JFFVentures Fund II is poised to envision and deliver real change. As this fund grows, it holds the promise of molding an inclusive future that bridges gaps in economic mobility. Further, its impact investments fosters innovation across the HR, education, and workforce domains by new, empowered leaders.