The Oregon Impact Fund will invest in for-profit organizations tackling affordable housing, healthcare and job creation in the state.
Existing donors have committed $10 million to the fund; the foundation will match that amount and try to raise an additional $10 million. The fund will provide “growth capital for scaling proven [for-profit] models,” says president Max Williams.
A $2.75 million impact investing initiative in 2014 demonstrated “significant demand for capital” for revolving loan funds and other ways to scale up important projects with non-traditional financing.
The Oregon Impact Fund will commit more of the foundation’s endowment to mission-aligned investing, a growing trend (including the Ford Foundation’s $1 billion impact investing pledge.)
The Oregon foundation invests 0.5 percent of its endowment in Oregon-based venture capital funds.