Investment Syndicate Led by New U Venture Partners (NUVP) Invests $1.25 Million in Capital into MentorWorks to Continue to Make Education Accessible and Affordable
BOSTON, MA, September 16, 2020
Utah-based New U Venture Partners (NUVP), in addition to other investors, invests $1.25 million in MentorWorks Education Capital, Inc., a leader in Income Share Agreements (ISAs) and career development through their innovative Talent Accelerator Platform (TAP).
MentorWorks Education Capital, Inc. today announced that a group of investors, led by New U Venture Partners (NUVP), invested $1.25 million into MentorWorks’ infrastructure and operations to enable the best-in-class Income Share Agreement (ISA) provider to expand their financial and social capital offerings to college and non-traditional students in their hybrid, fund and support approach.
“We are pleased to receive this additional funding from NUVP and our other investors. NUVP will be a key partner in supporting our mission to address affordability and accessibility to education for underserved students,” said Karthik Krishnan, CEO and Co-founder of MentorWorks. “We are thankful to NUVP and our other investors for their support and guidance.”
“The innovative alternative financing approach that MentorWorks supports as an ISA provider closely aligns with our mission,” said Joel Camacho, Vice President at NUVP. “By investing in MentorWorks’ infrastructure and operations, we can significantly increase the access to post-secondary educational opportunities in a more equitable manner.”
About New U Venture Partners (NUVP)
New U Venture Partners (NUVP) is a newly-formed venture capital fund anchored by Western Governors University (WGU), with the mission of backing companies in the digital learning and future of work sectors that are improving the quality of and expanding access to opportunities for all individuals.
About MentorWorks Education Capital, Inc.
MentorWorks Education Capital, Inc. provides Income Share Agreement (ISA) financing which enables college and non-traditional students to complete their education without incurring up-front tuition costs. ISAs are an alternative to loans with which approved students will have their tuition paid and then will pay a percentage of their future income for a fixed period of time, up to a maximum cap without incurring interest. Uniquely, MentorWorks also provides career development support, mentoring and access to employers through our Talent Accelerator Platform (TAP).