Using a Congress-approved budget, the US’ Overseas Private Investment Corporation (OPIC) says it’ll invest $200 million in venture capital funds over the next few years. That money will be used to support projects intended to improve living standards around the world.
The goal of making a positive impact with investments, known as “impact investing,” differs from how typical sovereign wealth funds function. Those funds are primarily focused on making as much money as they can.
OPIC will give money to 10-15 VC funds, expanding its investing beyond work in private equity.
It’ll invest in areas like Africa, Southeast Asia, and the Middle East. Whatever money is made will head to the US Treasury.
