We fund high-impact organizations to do what they do well; mostly grants, sometimes debt or equity. We don't invest in organizations that don't measure impact – they're flying blind and we would be too.
Impact at scale doesn't come from projects, it comes from the work of organizations. The best way to reach scale with a great idea is to pair it with a great organization.
Unrestricted funding drives innovation and growth. It's the most useful for the organization and most leveraged for the donor. If we don't think an organization knows how to use the money better than we do, we don't give them any.
We don't abandon a good thing. If we continue to see real impact and clear progress toward scale, we stay in the game.
We don't take proposals. Proposals are a hassle for all concerned and rarely give us the information we need. We source through our own network and ask our own questions.
The last thing we want is to waste the time and energy of those who are trying to save the world. We ask for annual milestones and their impact methodology; beyond that, we rely on documents they should already have on hand.
We get out to the field, advise when we have something useful to say, connect operators to other funders, meet up whenever we can, and talk often enough to avoid any surprises. We expect to be engaged, but we stay out of the way when we don't have value to add.
We focus on the basic needs of the very poor, most of whom live in rural settings. Our priorities are:
We look for solutions that can drive exponential impact over time - that will provide a significant benefit to a million people and beyond. We have four criteria:
This means the right leadership, the right systems, the right people in the right positions, smart strategy, bold ambitions, the ability to raise money – and a track record that gives us confidence.