Newark Venture Partners (NVP), said Feb. 24 that Vaughn Crowe joined the firm as a managing partner. Crowe will be part of the management team, leading new investments out of NVP II, the firm’s second fund, and putting his operating experience to work in support of the larger NVP portfolio and its diverse body of founders.
“Joining NVP is like coming home,” said Crowe. “I was born and raised in Newark and have a history of working closely with the NVP team. I believe deeply that NVP’s approach to investing within thematic areas of focus like health tech will solve some of today’s most pressing business challenges. In addition, the firm’s commitment to economic development in Newark aligns with work I’ve done throughout my career and I look forward to ensuring that the community participates in the success and growth of the firm.”
The leading seed-stage venture firm in Newark is focused on building a leading tech ecosystem in the city, which is even more important as companies navigate the changing nature of work and explore new places to build businesses. To further its commitment to Newark’s growth and the next generation of entrepreneurs, NVP will build a program, committing a portion of Fund II carried interest to the hardworking students at the Boys & Girls Clubs of Newark, an organization critical to the development of Newark’s children and its future, and one personally important to Crowe.
Don Katz, founder of NVP, and founder and chairman of Audible said in a prepared statement, “I’m thrilled to welcome Vaughn to the cause. A Newark native with deep knowledge of the business, government and philanthropic sectors, and someone I began to work with to advance Newark’s comeback story more than a decade ago, Vaughn will help accelerate NVP’s meaningful support for innovation, investment, and equitable growth in the city.”
Crowe was instrumental in the launch of Newark Venture Partners and has contributed over the years as a thought partner on strategy and investments. He is a long-time advisor for Ray Chambers’ family office, Wesray Social Investments LP, and brings to NVP over 15 years of transaction sourcing and execution, portfolio management and governance and deep community involvement.
NVP is also committed to supporting diverse founders from all backgrounds, having recently been named in Crunchbase’s “Top 10” list of NVC’s supporting Black and Latinx founders. Currently, 56% of NVP portfolio companies are founded by a female founder or a founder of color.