The Omidyar Network, a United States-based socially responsible investment firm, announced at the recent sixth annual meeting of the Clinton Global Initiative that it would invest USD 55 million in technological innovations that promote government transparency and economic empowerment. USD 30 million will be directed toward tools that advance government transparency, especially those that expand access to information about government activities. USD 25 million will benefit those mobile technologies that support economic empowerment in emerging markets, as well as that increase access to health care, agriculture, commerce and education [1].
By Lindsey Shaughnessy, Research Associate
About the Omidyar Network: Founded in the United States in 2004, The Omidyar Network is an investment firm that provides investments and grants to “socially responsible” organizations in the areas of microfinance, entrepreneurship, property rights, social media, marketplaces and government transparency. To be eligible for a grant, an organization must be “determined to be aligned to Omidyar Network’s goals, have an identifiable impact, have potential for large-scale impact, have proven leadership, and exemplify innovation.” Omidyar Network typically makes investments of USD 1 million or greater. As of 2007 it had total assets of USD 413 million and had made 17 investments in microfinance institutions (MFIs).
Sources and Additional Resources:
[1] PR Newswire, “Omidyar Network to Invest $55 Million in Internet and Mobile Technologies to Advance Government Transparency and Economic Empowerment”, September 21, 2010. http://finance.einnews.com/article.php?pid=169695
MICROCAPITAL BRIEF: “Clinton Global Initiative (CGI) Fifth Annual Meeting September 22-25, 2009, New York City, U.S.”, September 21, 2009. https://www.microcapital.org/microfinance-event-clinton-global-initiative-cgi-fifth-annual-meeting-september-22-25-2009-new-york-city-us/
MICROCAPITAL BRIEF:”United States: Exxon Mobil, Goldman Sachs, Pro Mujer, Women for Women Commit to Giving Microfinance, Business Training to Women at Clinton Global Initiative Meeting”, September 24, 2009. https://www.microcapital.org/press-release-united-states-exxon-mobil-goldman-sachs-pro-mujer-women-for-women-commit-to-giving-microfinance-business-training-to-women-at-clinton-global-initiative-meeting/
MICROCAPITAL BRIEF: “Clinton Global Initiative (CGI) Announces New Commitments; Brazilian Sitawi to Start Microcredit Fund, Lumni to Provide Student Loans”, September 27, 2010. https://www.microcapital.org/microcapital-brief-clinton-global-initiative-cgi-announces-new-commitments-brazilian-sitawi-to-start-microcredit-fund-lumni-to-provide-student-loans/
MicroCapital’s Microfinance Universe profile: Omidyar Network
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