The Draper Richards Kaplan Foundation has announced the launch of an $80 million impact investing fund in support of early-stage social impact entrepreneurs working to address complex social issues.
Announced by the foundation in conjunction with the opening of its first European office, in The Hague — a location selected for its entrepreneurial ecosystem and impact-focused business environment — the fund will support social enterprises working to create a sustainable, more just society. To that end, and in collaboration with Utrecht-based Rabobank, a founding partner of the DRK Foundation in Europe, the fund will provide flexible grants, loans, and equity to nonprofit and for-profit social entrepreneurs, with the foundation taking a board seat at each organization for a period of three years in order to provide direction with respect to mission alignment and future growth prospects.
Safi Sana, one of the first Dutch companies to receive support from the foundation, converts human and organic waste into mainstream consumables such as electricity and irrigation water.
"Last year's annual report to our stakeholders led with four simple words — The Urgency of Now," said DRK Foundation CEO Jim Bildner. "When we set out to find the right place to anchor DRK's work in Europe, we were in search of a host city and financial institution that shared our values and would partner with us to accelerate our…mission as we work to support as many impact-driven social enterprises as possible to make the world a better place for those most vulnerable. The City of The Hague and Rabobank as founding partners for our Dutch stichting are exactly what we hoped to find. They are impact focused and driven by powerful values around equity, which is exactly how we define our work and our team at DRK. We are honored to be a part of this community."
(Photo credit: Draper Richards Kaplan Foundation)