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eBay founder’s investment firm announces $100m funding to tackle ‘global trust deficit’

eBay founder’s investment firm announces $100m funding to tackle ‘global trust deficit’

Omidyar Network, the philanthropic investment firm established by founder Pierre Omidyar, has announced a $100M commitment to tackle some of the root causes of what it calls the ‘global deficit.’

The Omidyar Network‘s , which will run over the next three years, will support work worldwide, and focus on strengthening independent media and investigative journalism, tackling misinformation and hate speech, and helping citizens to better engage with government on critical issues.

The International Consortium of Investigative Journalists, the group behind last year’s Panama Papers investigation, will be one of the first recipients of this funding. ICIJ will receive a three-year grant of up to $4.5M USD to expand its investigative reporting. Other recipients include Alianza Latinoamericana para la Tecnología Cívica (ALTEC), Fundación Avina, Avina Americas and The Anti-Defamation League (ADL).

Over the last ten years, Omidyar Network has supported independent media, investigative journalism, and fact-checking organizations around the world. Investees include Insight TWI: The World Investigates, Innovate Africa, and Chequeado.

Stephen King, partner and global lead for the Governance & Citizen Engagement initiative at Omidyar Network, said:

“A free and independent media is key to providing trusted information and critical checks and balances on those in positions of power. We are increasing our support for this work to ensure it scales and accelerates to keeps pace with the challenges society is facing.

“We are therefore delighted to provide the International Consortium of Investigative Journalists with a $4.5M core grant. This will enable the organization to expand its investigations and shine more light on the dark corners of society where power is misused, corruption facilitated, and trust eroded.”

The funding announcement builds on the $220M USD committed by the Omidyar Network over the last decade through its Governance & Citizen Engagement initiative, which aims to drive accountability and transparency of government.

 

Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com.

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