Coalition Announces New $1B Initiative to Empower Low-Income Americans

"NEW YORK (July 17, 2025) – Today, a coalition of foundations and philanthropists—Ballmer Group, Gates Foundation, Stand Together, Valhalla Foundation and John Overdeck—announced NextLadder Ventures, a $1 billion initiative grounded in the belief that every American has the potential to achieve economic prosperity and focused on fostering technology and tools to expand economic opportunity for low-income Americans. Over the next 15 years, NextLadder Ventures will invest in entrepreneurs developing personalized solutions that help individuals and families navigate critical moments—like job loss, housing instability, or health crises. These approaches will be designed with and for the people who need them most. The initiative will offer a mix of grants, equity, and revenue-based financing to back both nonprofit and for-profit organizations. Anthropic joins as inaugural AI partner, providing expertise and technology to support the organizations NextLadder Ventures will fund. NextLadder Ventures addresses a major national challenge: while innovative ideas exist to help low-income Americans overcome obstacles and pursue prosperity, there is insufficient capital available to those serving these populations. The founding group is combining efforts to catalyze a thriving market that can attract ongoing investment in tools that ensure life’s pivotal moments don't become permanent barriers to upward mobility. This work will stand alongside, support and extend the reach of many who are already devoting their careers and resources to dramatically increasing opportunity in the U.S. “The future depends on empowering every person to realize their potential. But today, millions of Americans face barriers to economic opportunity,” said Brian Hooks, CEO of Stand Together. “We believe the best solutions come alongside people and empower them to pursue the path to success that’s right for them as they build the future they want for themselves and their families. New technology lets us do that.” Read more at Gates Foundation.