DRK Foundation raises $65 million to fund 100 new social innovation companies


The Draper Richards Kaplan Foundation, an early pioneer of venture philanthropy, has committed to giving $65 million to 100 socially-minded entrepreneurs to jumpstart their big ideas to help solve the world's most pressing problems. This is DRK's third round and most significant to date. They focus on early-stage funding and are fully engaged with their grantees. The new crop of 100 grantees includes a mix of nonprofit and hybrid companies that work in a number of areas, such as improving access to healthcare, education, poverty alleviation, social justice and environmental issues, including Sirum

With nearly 100 nonprofits in their portfolio, the DRK Foundation, which started in 2002, has had much success with socially-minded start-ups, like Kiva.org and Room to Read. What makes the foundation unique is they appoint managing directors to serve on the board of each organization it support. "We leave these boards stronger, more focused and ready to take on the work they need to do," says Jim Bildner, the foundation's CEO who sits on the boards of five grantees. DRK Foundation is also known for their frank feedback to their grantees from seasoned public-sector CEOs, like Bildner. Organizations get significant one-on-one time with foundation leaders, as well as founder Bill Draper himself, including access to his impressive list of contacts. LEARN MORE