Mastercard Foundation

The Mastercard Foundation is one of the largest private foundations in the world, established in 2006 through a generous gift from Mastercard Worldwide upon its initial public offering. Its core mission is to advance learning and promote financial inclusion for people living in poverty. The Foundation believes that all young people, no matter where they live, should have the opportunity to learn and prosper. Their investment thesis is centered on empowering young people in Africa and Indigenous communities in Canada to access dignified and fulfilling work. They achieve this through strategic partnerships with educational institutions, businesses, and government agencies, focusing on systemic change rather than individual grants.

Notable programs include the 'Young Africa Works' strategy, a comprehensive initiative launched in 2018 with the ambitious goal of enabling 30 million young people in Africa to access dignified and fulfilling work by 2030. This program focuses on strengthening education and training systems, supporting entrepreneurs and small businesses, and facilitating access to financial services. Another significant initiative is the 'Scholars Program,' which provides comprehensive scholarships to talented young people from economically disadvantaged backgrounds to pursue secondary and tertiary education. The Foundation also has a strong commitment to supporting Indigenous youth in Canada through various educational and entrepreneurial programs.

Geographically, the Mastercard Foundation's primary focus is Sub-Saharan Africa, with significant operations in countries like Ghana, Kenya, Rwanda, Senegal, and Uganda, among others. They also have a dedicated focus on Indigenous communities in Canada. While not a traditional venture capital firm, their 'investments' are in the form of grants and programmatic funding that catalyze innovation and economic development. Their portfolio highlights include supporting vocational training centers, agricultural value chain development, and digital innovation hubs across Africa. What makes them stand out is their long-term, systemic approach to poverty alleviation, their substantial financial commitment, and their emphasis on empowering young people to drive economic transformation in their communities.