Jobs for the Future Launches $50M Fund Targeting Investments in Underrepresented Founders

Two years ago, Jobs for the Future (JFF), a nonprofit dedicated to helping low-wage workers achieve upward mobility, launched a venture arm called JFFVentures to support innovative employment technology startups.

Today, JFFVentures announced the establishment of its second fund, JFFVentures Fund II, with a target of $50 million, of which $15 million has been raised so far.

The new fund, supported by organizations like the Autodesk Foundation, the Workday Foundation, and the American Council on Education, aims to invest in startups developing HR, education, and workforce solutions that facilitate economic mobility for workers in middle to low-wage jobs.

Managing partner of JFFVentures Fund, Sabari Raja, stated that the fund plans to invest in 30 to 35 pre-seed and seed-stage startups, with initial check sizes ranging from $250,000 to $1 million, with potential to lead rounds. Additionally, the fund will reserve $1 million to $2 million for follow-on investments in companies demonstrating strong financial and impact performance.

JFFVentures Fund II joins a growing number of impact-focused VC funds in the United States seeking to drive social, economic, and environmental change while generating investment returns. However, impact investing faces unique challenges, including measuring real-world impacts and demonstrating financial viability.

To address these challenges, Raja emphasized that while JFFVentures Fund II operates independently from JFF, it benefits from the broader JFF community’s connections with government, corporate, education, and nonprofit partners. Portfolio companies will have access to dedicated resources focused on connecting them with experts and networks within the JFF ecosystem, facilitating their growth and impact.