EdTech

JMI Equity Fund XII is the twelfth flagship growth equity fund from JMI Equity, launched in 2025 with a target size of $2.4 billion, matching the amount raised by its predecessor, Fund XI. The fund continues JMI's strategy of investing in high-growth software and technology-enabled services companies across North America. JMI typically makes minority and majority investments ranging from $25 million to $250 million in companies with proven business models, high recurring revenue, and strong growth potential. Fund XII is led by Managing Partner Peter Arrowsmith, following a leadership transition in which co-founder Harry Gruner became Executive Chairman. The firm has a team of over 40 investment professionals across offices in Baltimore, San Diego, and Washington, D.C. JMI's investment approach emphasizes partnering with management teams to drive operational improvements and long-term value creation. The fund has attracted commitments from several institutional investors, including the Kansas Public Employees Retirement System ($110 million), Massachusetts Pension Reserves Investment Management Board ($150 million), and New Mexico State Investment Council ($75 million). These commitments reflect confidence in JMI's consistent performance and focus on the technology sector.

Unconventional Ventures Fund II is a €80 million impact-focused venture capital fund investing at the pre-seed and seed stages. It centers on inclusive capital allocation to diverse founding teams—particularly women, people of color, immigrants, and LGBTQ+ individuals—across Europe. With a €50 million first close completed in November 2025, the fund positions itself at the forefront of a performance-driven, diversity-led investment thesis. The fund prioritizes startups building scalable, tech-enabled solutions that address global challenges. It looks for founders combining purpose with ambition—often underrepresented in traditional venture networks—and aims to provide catalytic capital to help them unlock early momentum. The firm believes investing in diverse teams not only addresses systemic funding inequities but generates superior outcomes due to untapped market potential. Fund II will focus on sectors that align with impact and sustainability: climate tech, health tech, inclusive fintech, and future-of-learning solutions. Portfolio companies are expected to deliver not just strong financial returns but measurable social or environmental outcomes. The fund applies an intersectional lens to impact, investing at the overlap of innovation, equity, and responsibility. Headquartered in Copenhagen, Unconventional Ventures leverages a pan-European network of co-investors, operators, and advisors. It provides founders with capital, visibility, and long-term partnership. Fund II is a continuation and expansion of the firm’s first fund, which backed 20+ startups and demonstrated that inclusive VC can outperform conventional patterns.