Omidyar Network to open London office
Howard Lake | 16 September 2011 | News
Innovative technology funder Omidyar Network is to open an office in London’s Shoreditch to serve as its HQ for work in Europe, and as the global hub for its Government Transparency initiative.
Stephen King, investment partner at Omidyar Network, will lead the London office. He announced the move at yesterday’s “The Power of Information: New Technologies for Philanthropy and Development” conference in London.
Omidyar Network, which describes itself as a “philanthropic investment firm” was created by eBay founder Pierre Omidyar and his wife Pam in 2004. It makes investments and grants to innovative companies and organisations in the areas of access to capital and media, markets and transparency.
It is an unusual funder. As it explains, “we work across the social and business sectors, operating both a Limited Liability Company (LLC) and a 501(c)(3 ) foundation. We invest in for-profit entities through our LLC. We make grants and program-related investments through our 501(c)(3) entity.”
Over the last two years, the firm has invested over $40 million in its Government Transparency initiative in supporting transparency efforts across the globe, including organisations such as mySociety in the United Kingdom, Ushahidi in Kenya, Janaagraha in India and the Sunlight Foundation in the United States.
From its London office, Omidyar Network will begin to expand the geographic focus of its Government Transparency activities to include Poland, Turkey and Ukraine in Europe; Brazil and Mexico in Latin America; Egypt in the Middle East; and Indonesia and the Philippines in Southeast Asia.
“The opening of our London office broadens our reach in helping create opportunity for individuals through investments in market-based solutions,” said King.
“A greater concentration of efforts in this region of the world will enable us to work more closely with portfolio partners, create new collaborations and explore new investment opportunities. The vibrancy and promise of the Shoreditch area, we feel, are particularly appropriate for Omidyar Network”.
www.omidyar.com
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.