New Venture Fund

The New Venture Fund is a 501(c)(3) nonprofit organization managed by Arabella Advisors, a for-profit consulting company that advises left-leaning donors and nonprofits about where to give money and serves as the hub of a politically liberal "dark money" network in the United States.[1] The New Venture Fund serves as the fiscal sponsor for various left-leaning political projects.[2] The New Venture Fund has annual revenue of nearly $1 billion.

New Venture Fund
Formation2006 (2006)
Type501(c)(3) nonprofit
HeadquartersWashington, D.C.
AffiliationsArabella Advisors
Sixteen Thirty Fund
Hopewell Fund
Windward Fund
North Fund
Budget (2020)
$975,483,022 (revenue)
Websitenewventurefund.org

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."[3] According to Axios, the New Venture Fund has been "criticized for obscuring information about the scores of subsidiary groups they sponsor."[4]

Swiss billionaire Hansjörg Wyss is a major donor to the New Venture Fund.[5] The New Venture Fund has given money to Acronym, a partial owner of Courier Newsroom, which The New York Times described as "a network of news media outlets that was criticized by a nonpartisan disinformation watchdog for slanting coverage to favor Democrats."[6]

References
  1. 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.
  2. "The Inside Philanthropy Power List". Inside Philanthropy. 21 July 2021. Retrieved 11 September 2023.
  3. 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.
  4. Markay, Lachlan (May 13, 2021). "Progressive legal advocacy group spinning off from sponsor". Axios. Retrieved 11 September 2023.
  5. Vogel, Kenneth P. (3 May 2021). "Swiss Billionaire Quietly Becomes Influential Force Among Democrats". The New York Times. Retrieved 11 September 2023.
  6. 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.
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