A coalition of foundations and philanthropists, including the Ballmer Group, Gates Foundation, Stand Together, Valhalla Foundation, and John Overdeck, has launched NextLadder Ventures, a $1 billion initiative aimed at expanding economic opportunities for low-income individuals.
Over the next 15 years, NextLadder Ventures will invest in entrepreneurs developing personalized solutions for challenges like job loss, housing instability, and health crises. The initiative will offer grants, equity, and revenue-based financing to support nonprofit and for-profit organizations. Anthropic has joined as an inaugural AI partner to provide expertise and technology.
NextLadder Ventures aims to tackle the challenge of insufficient capital for innovative ideas that assist low-income Americans. It focuses on over 90 million people facing systemic barriers and more than 1.6 million “helpers”—including social workers, legal aid attorneys, and others—who guide individuals through critical life moments. By providing scalable tools, the initiative will enable these professionals to reach a wider audience and deliver personalized support.
The initiative is committed to ensuring that safety, privacy, and community input are central to the tools developed, allowing those who benefit most to shape the solutions. Success will be measured by improvements in incomes, support systems, opportunities, and the dignity of achieving success.
John Overdeck has also pledged significant funding to NextLadder Ventures, reflecting his belief in social mobility and the transformative potential of technology.
KEY QUOTES:
“The future depends on empowering every person to realize their potential. But today, millions of Americans face barriers to economic opportunity. We believe the best solutions come alongside people and empower them to pursue the path to success that’s right for them as they build the future they want for themselves and their families. New technology lets us do that.”
Brian Hooks, CEO of Stand Together
“Technology can be an accelerator of tremendous social progress when harnessed for good, but right now the market is undercapitalized. This initiative is designed to catalyze existing great work and ideas as well as support an emerging generation of entrepreneurs, ensuring they have the resources necessary to create, innovate, and iterate on tools that can make a real difference in more people’s lives.”
Kevin Bromer, Executive Director, Head of Data & Tech Strategy at Ballmer Group
“In the U.S., the Gates Foundation is focused on lifting millions of people out of poverty and onto a path to prosperity. With rapid advancements in technology, especially in artificial intelligence, we have incredible opportunities to help people live healthier, more prosperous lives. NextLadder Ventures brings together the vision, resources, and community connections needed to create solutions for millions of Americans and the frontline workers who serve them, opening up more paths to economic opportunity and making upward mobility more possible.”
Mark Suzman, CEO of the Gates Foundation
“NextLadder Ventures will back leaders building practical solutions that work on the ground to help low-income Americans grow their incomes and achieve greater wellbeing—which can compound into lasting gains for millions of children.”
Sara Allan, President of Valhalla Foundation
“For too long, we have relied on a one-size-fits-all approach to support people facing economic challenges. To better serve those in need, we need new, practical pathways to opportunity that helps the helpers and the people they serve. Technology alone isn’t the answer. But when it’s built with the needs of people facing economic challenges in mind and paired with the extraordinary work of philanthropists strengthening communities and scaling promising strategies, it becomes a powerful force for change.”
Ryan Rippel—whose career has focused on addressing poverty in America and whose values were shaped by being raised by a single mother in central Missouri—who will serve as CEO of NextLadder Ventures
“Core to our mission is helping AI benefit humanity. As the inaugural AI partner, we’re providing Claude credits and hours of time with our in-house Claude experts. This is exactly the kind of real-world impact we want to see—AI making essential services work better for the people who need them most.”
Elizabeth Kelly, Head of Beneficial Deployments at Anthropic
