The Foundation makes mission-related investments (MRIs) for dual-bottom-line returns and program-related investments (PRIs) where social impact takes precedence over financial return. This page is the full picture. Personal angel positions held by our co-founders are not Foundation activity and do not appear here.
Of the investment tools available to a small operating foundation, PRIs sit closest to the work itself — charitable capital with the patience of philanthropy and the discipline of investment.
A program-related investment under IRC §4944(c) is a loan or equity investment whose primary purpose is to advance the Foundation's exempt charitable mission — with the production of income or appreciation as, at most, a secondary consideration. The IRS allows PRIs to count toward the Foundation's annual qualifying distribution, the same way a grant does, while still being recoverable capital that can revolve into the next mission-aligned opportunity when repaid.
For a foundation our size, that combination is unusually powerful. A zero-interest microloan to Challenges Uganda can fund a refugee entrepreneur's first inventory and then come back to fund the next. A below-market bridge loan to Oze can keep an impact-led fintech alive through a procurement delay that would otherwise have stalled financial-inclusion work across three African countries. PRIs let us partner with mission-driven organizations on the terms those organizations actually need.
We intend to lean further into PRI activity in the coming years, both with our existing partners and with new ones whose work fits our mission and whose growth could be unlocked by patient, mission-priced capital.
Ordered by sector and investment vintage. Each entry leads with the one-line thesis; the longer paragraph behind it explains the mechanism, partner, and mission alignment.
Endovascular brain-computer interface (Stentrode™) restoring digital autonomy after paralysis — implanted via the jugular vein, no open-brain surgery required. For patients with paralysis from ALS, stroke, and spinal cord injury. FDA IDE status; aligned with SDG 3 (Good Health).
AI floor scale that catches diabetic foot ulcers weeks before they're visible — preventing amputations in the 1.6M+ underserved high-risk patients in the U.S. The "Footprint" scale captures daily foot images during a 10-second weigh-in, identifying inflammation and early ulceration. Personal work: Chuck lost his father to complications from a diabetic foot ulcer in 2015.
First major design innovation in the $6B+ U.S. feminine hygiene market in 80 years. Founded by Stanford engineers Greta Meyer and Amanda Calabrese. Reengineering everyday women's health products — starting with the Sequel Spiral Tampon (FDA 510(k) cleared). Aligned with SDG 5 (Gender Equality).
Online therapy access for underserved populations — ~3,000 sessions enabled through 2024 with Foundation-supported capacity. Foundation participated in successive SAFE rounds at $7M and $14M caps, signaling continued conviction in the model.
Mental health support platform built for the teen years. The Foundation's investment supports access to age-appropriate digital mental health tools at a moment when adolescent mental health needs are accelerating beyond traditional clinical capacity.
Continuous-fermentation biomanufacturing cutting the cost and emissions of producing bio-based chemicals, ingredients, and materials at scale. One of the Foundation's earliest mission-related investments (2021), aligned with the Foundation's SDG-oriented thesis on climate and sustainable production.
Autonomous cargo aircraft lowering the cost and carbon intensity of air freight — including routes serving emerging markets and humanitarian-logistics needs. One of the Foundation's earliest mission-related investments (2021), held across two participation rounds.
Capital-efficient venture studio targeting aging, pandemic preparedness, and food security. Builds companies around licensed IP and validated prototypes; targets 18–36 month exits with strict per-company caps to maximize disciplined impact.
Climate-tech venture fund — renewables, storage, hydrogen, direct air capture, EVs, and the broader decarbonization stack. Limited-partner position in Vectors Capital, a thesis-driven fund led by Jane Ge in partnership with leading research institutions and think tanks. Specific investment areas include renewable energy generation (solar, wind, hydro, geothermal), energy storage (battery, thermal, mechanical), smart grids and microgrids, energy efficiency, the hydrogen economy and fuel cells, direct air capture and carbon sequestration, electric vehicles and charging infrastructure, carbon accounting, circular-economy infrastructure, green finance, climate-risk insurance, and behavioral-change technologies. Mission-aligned with SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action).
Two below-market PRIs to a fintech closing the $330B+ MSME credit gap in sub-Saharan Africa — an estimated $1.75 million of social value generated (Bridgespan 36x). Oze's machine-learning credit-scoring and embedded lending infrastructure transitions micro, small, and medium enterprises from predatory lenders (20%/month) to formal banking (3%/month). The first loan (November 2025) was a below-market bridge during Oze's fundraise, after the company was named to the Norrsken Impact/100 List alongside Wave, Sabi, and Stitch. The more recent loan (2026) is structured at 2.0% simple interest over 18 months with an optional convertibility into equity at a Series A. Bridgespan's Impact Multiple of Money assessment of Oze underwrites the social-return figure. MIT Solve and Visa-recognized. Both loans structured as PRIs under IRC §4944(c).
Zero-interest revolving microloan capital ($500–$1,000 disbursements) for refugee-entrepreneur graduates of the Foundation's clinics at MUBS in Uganda. Loans are disbursed and administered by Challenges Uganda, a long-standing on-the-ground partner with the relationships and operational capacity to manage local lending in Kampala and surrounding refugee settlements. The flexible terms let repayments revolve back into capital for the next cohort rather than returning to the Foundation as income. Mission-aligned with SDGs 1 (No Poverty), 5 (Gender Equality), 8 (Decent Work and Economic Growth), and 10 (Reduced Inequalities).
Investment criteria: clear alignment to the UN Sustainable Development Goals, scalable impact potential, strong founding teams, and measurable outcomes — with a particular focus on women, underrepresented founders, and ventures serving underserved populations.
Every investment on this page passes through the Foundation's investment policy and conflict-of-interest review. Both documents are public.
