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MIT Solve’s Innovative Donor-Advised Venture Fund: Episode 54 of Money + Meaning

SOCAP Global August 25, 2020

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Casey van der Stricht talks about MIT Solve’s new philanthropic venture fund, Solve Innovation Future

On launching Solve Innovation Future:
“Even with over $25mm of grant capital brokered by Solve and directed to our Solver teams over the last 3-4 years, funding continues to be their main constraint…We recognized that the investment opportunity was huge in terms of better positioning our Solver teams to grow and move across a capital continuum. We can connect to them with grant funding to help support the innovation and the exploration, and then we can participate to help get them over the hump or what has often been referred to as the Pioneer Gap – that sort of post-philanthropy, pre-growth capital.”

– Casey van der Stricht, Principal of Solve Innovation Future

MIT Solve is a marketplace that connects social entrepreneurs around the world with both the MIT innovation ecosystem and an extensive network of member organizations such as Nike, the Gates Foundation, and Microsoft. Last year, MIT Solve launched Solve Innovation Future, a philanthropic venture fund. The first-of-its-kind donor-advised venture fund is structured as an evergreen vehicle where proceeds are paid forward into future “Solvers” – social entrepreneurs in their program. The evergreen nature allows the fund to provide appropriate forms of capital tailored to each entrepreneur’s unique situation and to better align the incentives of investor and entrepreneur. Using various forms of capital – grant funding, equity, and debt – MIT Solve is able to support Solvers tackling the world’s toughest challenges at multiple points in their entrepreneurial journey.

Leading Solve Innovation Future is Casey van der Stricht, formerly the Vice President of Social Investments at Social Finance. In this episode, Casey sits down with Alex to talk about how they landed on the unique fund structure, the innovative types of funding they are providing to entrepreneurs, and her advice for entrepreneurs looking to raise capital. 

Featured Voices

Casey van der Stricht
Solve Innovation Future
Alex Kravitz

Additional Resources

About Money + Meaning

Money + Meaning is the official podcast of SOCAP. The series aims to expand the conversation around impact investing and strategies to finance and support social change while stimulating innovative and valuable new partnerships across sectors.

Impact Investing / Social Entrepreneurship
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