Our investment portfolio
To advance our mission, we invest primarily indirectly via fund managers with strategies that have positive social and/or environmental impact at the core of their activities. Our portfolio contains a diverse set of asset classes, all with varying financial and impact risk and return (IRR) profiles. The end-beneficiaries and targets of our investments are charities, non-profits, for-profit social ventures, for-profit start-ups, projects and even corporations. While our investees may vary, they are all working to deliver impact and further societal transformation on multiple levels.
We classify our investments in two categories based on their financial characteristics and degree of alignment with our programs and mission:
- Mission-Related Investments (MRI): MRIs are financial investments made in either for-profit or non-profit enterprises with the intent of achieving objectives aligned with our mission, and normally earning market-rate financial returns.
- Program-Related Investments (PRI): PRIs are investments made to charities as well as for-profit and non-profit enterprises to further the Foundation’s program objectives, but, unlike grants, they also aim to generate financial returns, with a tolerance for below-market returns.
You can learn more about our impact, including our exited investments, in our Impact Investing Reports.