This work investigates Near-isothermal compression using Liquid-Gas Jet Pumps (LGJPs), in which a high-speed liquid jet entrains and then compresses a gaseous working fluid as dispersed bubbles. LGJP are widely treated in the literature as effectively isothermal, but practical efficiency is limited by viscous losses and irreversibilities associated with two-phase mixing. LGJP were designed and assessed using computational fluid dynamics and validated experimentally. The results quantify the key loss mechanisms and demonstrate an inherent coupling between achievable temperature lift and required flow velocity, which constrains efficiency in practical LGJP-based compression.