The U.S. government is investing about $200 million in overseas venture capital funds
Friday, November 3, 2017
The U.S. government plans to spend hundreds of millions of dollars in venture capital funds overseas as part of an expanded federal program to do good around the world through what’s known as “impact investing.”
The program, unveiled Wednesday at a conference by the Overseas Private Investment Corporation, will dedicate around $200 million over the next few years in 10 to 15 venture funds that focus primarily on making a social impact in overseas countries. The exact amount of money allocated could change, but is expected to be in the hundreds of millions of dollars.
OPIC will effectively serve as a limited partner in venture funds, much like it has in private equity — where it has spent $4.1 billion over the last 30 years.
OPIC’s expansion into venture capital comes during an administration that has tried to cut back on foreign aid. Trump’s initial budget blueprint, in fact, called for OPIC to be wound down and eliminated.
Photo courtesy of Martin Fisch.
Source: Recode (link opens in a new window)
- Categories
- Investing
