Jobs for the Long term (JFF), a Boston, MA-based nationwide nonprofit that drives transformation within the American personnel and training methods, introduced JFF Ventures, a brand new affect making an investment arm that can arrange finances centered solely on rising applied sciences with the prospective to strengthen financial mobility for employees in low-wage jobs.
Led through Yigal Kerszenbaum, founding managing spouse, JFF Ventures will spend money on seed- and early- degree corporations with a devoted focal point on creating era answers that create alternatives for financial development for employees in low- and middle-wage jobs. Thru JFF Ventures, JFF will prioritize investments in startups based or led through girls of all backgrounds and ladies and men of colour.
It’s going to be supported through a newly-formed Company Innovation Council of leaders in ability control and building, making an investment, and company social accountability who will advise tech marketers tackling a few of as of late’s most important demanding situations associated with fairness, inclusion and financial mobility. The brand new council will supply training, recommendation on go-to-market technique, and comments on product design and industry fashion to assist founders maximize product-market are compatible. Founding participants come with Jocelyn Caldwell, vp, Body of workers Technique and Making plans at Walmart; Todd Lewis, vp at Prologis Ventures; Milan Suri, senior director, Distribution Expansion Ventures at Northwestern Mutual; and Nikita Steals, vp, Tech Ability Acquisition at Capital One.
The brand new funding arm marks a big growth of JFF’s rising focal point on era making an investment and acceleration, construction on the group’s 2019 acquisition and incubation of the Employment Generation Fund ([email protected]). Up to now, JFF has already invested in additional than 35 high-impact era startups thru [email protected], which can transform JFF Ventures Fund I. Greater than part of JFF’s present portfolio corporations introduced with feminine founders, in comparison to 2.3% of businesses who’ve gained challenge investment general, and 60% introduced with founders of colour.
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