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The Zero Gap Fund has raised more than $1 billion to tackle some of the world's "most pressing challenges," including climate change, regenerative agriculture, financial inclusion, and access to essential services, the Rockefeller Foundation says in a press release.
The fund, a partnership between the foundation, the MacArthur Foundation, and the John D.
MacArthur Foundation, has invested more than $1 billion in 12 investments since it was launched in 2013, the New York Times reports.
"These pioneering financial solutions lay the groundwork for channeling even greater private capital flows to investments that deliver positive impact to at-risk people, communities, and ecosystems," the press release says.
The Zero Gap Fund's investments have had a "positive impact on at-risk people, communities, and ecosystems," the press release says.
In its fifth year, the fund has mobilized more than $1.04 billion from partnering investors, the Times reports.
The fund has invested in companies that are developing technologies to address climate change, regenerative agriculture, financial inclusion, and access to essential services, the press release says.
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Social Entrepreneurship
Spotlight
Is Corporate Philanthropy Dead?
Senay Ataselim-Yilmaz, Chief Operating Officer, Turkish Philanthropy Funds, writes that philanthropy often solves the very problems that stems from market failure. Some social issues, however, cannot be tackled by questioning the return on investment.