We seek out novel, transformative approaches to drive North Star outcomes by supporting and encouraging experimentation, scale, and systems change, with a goal of outsized impact returns.

Similar to the concept of alpha in investing, we look for organizations that drive transformative increases in incomes for their participants, compared to an estimated counterfactual group.

Similar to the concept of Beta in investing, we seek out outlier alpha project types that may also have higher risk than projects acceptable to other philanthropic organizations, e.g., through differentiated operating models, enabling platforms, market shaping activities, or innovative program design, and that have higher impact return potential.

Inspired by venture capital approaches, we seed funding in new ideas and experiments, double-down and scale approaches that have gained traction, and aim to shape the system in ways that will drive benefit across our portfolio.