New York Times: From the Gates Foundation, Direct Investment, Not Just Grants
“…The [Bill & Melinda Gates F]oundation, which has distributed billions of dollars in grants to improve health and living conditions in developing countries, is increasingly expanding its tool kit, using some of its capital to invest directly in companies that could help advance its goals. The foundation has made about a dozen direct equity investments in companies over the last couple of years under the umbrella of program-related investing, as it is called in foundation circles…” (Max, 3/12).