Having specialists at Audible on call is really something special. I know I can reach out to anyone as I need to. You’re forever part of the ecosystem.”Michael WangSearch In Real Life (SIRL)
Newark Venture Partners
Newark Venture Partners (NVP) is growing the innovation economy in Newark and revitalizing the city as a hub for tech entrepreneurs.
Founded by Don Katz, Audible’s founder and executive chairman, NVP invests in high-growth startups, with the goal of creating the next dozen Audibles in Newark to generate jobs, revenue and opportunity for city residents.
More than $55 million invested in over 100 portfolio companies, with over 1600 employees
More than 50% of NVP’s portfolio companies are founded by women or people of color.
NVP is a top 10 micro VC investing in Black and Latinx-founded companies in the US, according to Crunchbase’s “Diversity Spotlight 2020” report.
From Toronto and San Francisco to London and Tel Aviv, NVP’s portfolio companies come to Newark from all over the globe after a competitive selection. The companies are inventing new solutions for complex business challenges within the supply chain, healthcare, fintech/insurtech and audio/voice markets.
NVP investments incubate in the NVP co-working space on the seventh floor of the building Audible shares with Rutgers Business School, with many of them planting long-term roots in Newark. 1Huddle, an app that gamifies workforce training, has grown to more than 40 employees worldwide, with half of its staff based in its office in Newark. 1Huddle works with companies large and small to provide job readiness and management training to their workforces. It has also donated its service to local nonprofits and governmental entities for Newark job-seekers. Due to the pandemic, NVP's latest investments are working virtually with the team, with some of the founders committed to working in the city or moving their headquarters there when COVID-19 subsides.
As NVP companies grow, they create jobs and taxable revenue for Newark and its residents and generate foot traffic around the city’s downtown, sustaining ground-level retail and creating a more vibrant, equitable city.
NVP is fueling Newark’s Rise as a Tech Hub
New Jersey Business Magazine highlights how NVP is transforming Newark into a destination for startups, venture capital firms, incubators, and entrepreneurs.
Invested in Newark’s Future
NVP’s founders and employees gain access to hundreds of employees across Audible, Prudential, Panasonic and other NVP investors who have signed up to coach these companies on product development, go-to-market strategies, recruiting, data science and other areas. NVP also partners with Newark-based educational institutions and programs such as Rutgers Newark, NJIT, the All Stars Program, the Black Venture Capital Consortium and West Side High School to serve the next generation of local entrepreneurs. Together, they help create a more resilient innovation economy for Newark and beyond.
14 of the start-ups in NVP’s portfolio are headquartered in Newark.
290+ people are employed by the Newark-based NVP portfolio companies.
NVP has attracted 10,000+ visitors to Newark since 2016.
NVP is helping Newark’s innovation economy grow at a 9% rate annually, which is on par or above other emerging tech industry hubs.
NVP’s Tech Ecosystem
Business Insider named Newark one of the “10 most affordable cities to find a good-paying job as a programmer,” calling out NVP and the city’s growing “reputation as home to a buzzy tech ecosystem.”
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