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. The New Venture Fund serves as the fiscal sponsor for various left-leaning political projects. The New Venture Fund has annual revenue of nearly $1 billion.
| Formation | 2006 |
|---|---|
| Type | 501(c)(3) nonprofit |
| Headquarters | Washington, D.C. |
| Affiliations | Arabella Advisors Sixteen Thirty Fund Hopewell Fund Windward Fund North Fund |
Budget (2020) | $975,483,022 (revenue) |
| Website | newventurefund |
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." According to Axios, the New Venture Fund has been "criticized for obscuring information about the scores of subsidiary groups they sponsor."
Swiss billionaire Hansjörg Wyss is a major donor to the New Venture Fund. 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."
In October 2023, after a Washington Examiner investigation revealed that the New Venture Fund and the Windward Fund had given $473,000 between 2020 and 2021 to the Alliance for Global Justice, a group with Palestinian terrorism ties, the New Venture Fund and Windward Fund announced they would discontinue funding of the group.