| Formation | 2006 |
|---|---|
| Type | 501(c)(3) nonprofit |
| Headquarters | Washington, D.C. |
| Affiliations | Arabella Advisors Sixteen Thirty Fund Hopewell Fund Windward Fund North Fund |
| Budget | $669 million (revenue)[1] (2023) |
| Website | newventurefund |
The New Venture Fund is a 501(c)(3) nonprofit organization managed by Arabella Advisors, a for-profit consulting company in the United States that advises left-leaning donors and nonprofits about where to donate.[2] The New Venture Fund serves as the fiscal sponsor for various left-leaning political projects.[3] It has annual revenue of nearly $1 billion.[4]
OpenSecrets, Axios, and The New York Times have described New Venture Fund as a dark money group.[2][5][6] According to OpenSecrets, the New Venture Fund "has fiscally sponsored at least 80 groups and acted as a pass-through agency funneling millions of dollars in grants for wealthy donors to opaque groups with minimal disclosure."[5] According to Axios, the New Venture Fund has been "criticized for obscuring information about the scores of subsidiary groups they sponsor."[6]
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Swiss billionaire Hansjörg Wyss is a major donor to the New Venture Fund.[7]
The New Venture Fund has given money to Acronym, a partial owner of Courier Newsroom.[8]
In October 2023, a Washington Examiner investigation revealed that the New Venture Fund and the Windward Fund had given $473,000 between 2020 and 2021 to the Alliance for Global Justice, a group with alleged links to the Popular Front for the Liberation of Palestine militant group. New Venture Fund and Windward Fund announced they would discontinue funding the Alliance for Global Justice.[9]
References
[edit]- ^ "New Venture Fund - Nonprofit Explorer". ProPublica. 9 May 2013. Retrieved 17 June 2025.
- ^ a b Vogel, Kenneth P.; Goldmacher, Shane (29 January 2022). "Democrats Decried Dark Money. Then They Won With It in 2020". The New York Times. Retrieved 11 September 2023.
- ^ "The Inside Philanthropy Power List". Inside Philanthropy. 21 July 2021. Retrieved 11 September 2023.
- ^ "New Venture Fund - Reports". Retrieved 18 August 2025.
- ^ a b Massoglia, Anna (May 22, 2020). "'Dark money' networks hide political agendas behind fake news sites". OpenSecrets. OpenSecrets. Archived from the original on 23 May 2020. Retrieved 2 June 2020.
- ^ a b Markay, Lachlan (May 13, 2021). "Progressive legal advocacy group spinning off from sponsor". Axios. Retrieved 11 September 2023.
- ^ Vogel, Kenneth P. (3 May 2021). "Swiss Billionaire Quietly Becomes Influential Force Among Democrats". The New York Times. Retrieved 11 September 2023.
- ^ Vogel, Kenneth P.; Robertson, Katie (13 April 2021). "Top Bidder for Tribune Newspapers Is an Influential Liberal Donor". The New York Times. Retrieved 11 September 2023.
- ^ Kaminsky, Gabe (2023-10-30). "Left-wing Arabella Advisors dark money groups cut ties with Palestinian terror-tied charity". Washington Examiner. Retrieved 2023-12-03.
External links
[edit]- "New Venture Fund". Internal Revenue Service filings. ProPublica Nonprofit Explorer.