#205: Omidyar Network Pairs Grants With Investments To Solve Problems
January 23, 2015 - Read the full Forbes article and watch the interview here: http://onforb.es/1JdMnmz. Subscribe to this podcast on iTunes by clicking here: http://bit.ly/ymotwitunes or on Stitcher by clicking here: http://bit.ly/ymotwstitcher. Omidyar Network, founded by Pierre Omidyar, founder of eBay, and his wife Pam, is a driving force in the movement toward impact investing, using investments to drive social impact. Amy Klement, a partner at Omidyar Network or ON, explains the way she thinks about driving change, “Many ultra-high net worth individuals want to use the wealth they’ve acquired to make a social impact. Yet when creating a legacy, the power of markets often gets left out of their philanthropy.” She continues, “Our perspective at Omidyar Network is that wealth holders can and should bring their full range of experience and assets to address problems too big to be solved by grants alone. We are ultimately focused on the betterment of humankind. That’s why we focus on impact investing and grants.” Explaining the way in which ON brings either grants or investments or a combination, Klement says, “A hybrid entity like ours provides the flexibility to do whatever fits the bill. We call it the ‘problem first, tool second’ approach. This approach allows for the market-based solutions that are needed to address long intractable challenges at scale.” “We support social entrepreneurs and their innovative ideas through impact investing and grants,” she concludes. Please consider whether a friend or colleague might benefit from this piece and, if so, share it.