National Philanthropies Join Forces to Advance Economic Mobility and Access to Opportunity in America

NextLadder Ventures launches with over $1 billion to empower low-income Americans through personalized, tech-driven solutions

NEW YORK, July 17, 2025 /PRNewswire/ -- Today, a coalition of foundations and philanthropists — Ballmer Group, Gates Foundation, Stand Together, Valhalla Foundation and John Overdeck — announced NextLadder Ventures. This over $1 billion initiative is grounded in the belief that every American has the potential to achieve economic prosperity and focuses on fostering technology and tools to expand economic opportunity for low-income Americans.

Over the next 15 years, NextLadder Ventures will invest in entrepreneurs who are developing personalized solutions that help individuals and families navigate critical moments — like job loss, housing instability or health crises. These approaches will be designed with and for the people who need them most. The initiative will offer a mix of grants, equity and revenue-based financing to back both nonprofit and for-profit organizations. Anthropic joins as the inaugural AI partner, providing expertise and technology to support the organizations that NextLadder Ventures will fund.

NextLadder Ventures addresses a major national challenge: While innovative ideas exist to help low-income Americans overcome obstacles and pursue prosperity, there is insufficient capital available to those serving these populations. The founding group is combining efforts to catalyze a thriving market that can attract ongoing investment in tools that ensure that life's pivotal moments don't become permanent barriers to upward mobility. This work will stand alongside, support and extend the reach of many who are already devoting their careers and resources to dramatically increasing opportunity in the U.S.

"The future depends on empowering every person to realize their potential. But today, millions of Americans face barriers to economic opportunity," said Brian Hooks, CEO of Stand Together. "We believe the best solutions come alongside people and empower them to pursue the paths to success that are right for them as they build the futures they want for themselves and their families. New technology lets us do that."

NextLadder Ventures is focused on the more than 90 million people in the U.S. striving to get ahead but facing barriers as well as the more than 1.6 million helpers like social workers, legal aid attorneys and other frontline professionals who guide people through critical life moments. By equipping these professionals, many of whom are managing caseloads significantly above capacity, with scalable tools, this initiative will help them reach more people, reduce administrative burdens and provide more personalized support.

"Technology can be an accelerator of tremendous social progress when harnessed for good, but right now that market is undercapitalized," said Kevin Bromer, executive director, head of data & tech strategy at Ballmer Group. "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."

NextLadder Ventures makes it possible for entrepreneurs to build tools designed with safety, privacy and community input at the center — ensuring that the people who need these tools most have a voice in shaping them. Success will be measured by how much people's lives improve — higher incomes, stronger support systems, greater opportunity and the dignity that comes with achieving success.

"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," said Mark Suzman, CEO of the Gates Foundation. "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."

"NextLadder Ventures will back leaders building practical solutions that work on the ground to help low-income Americans grow their incomes and achieve greater well-being — which can compound into lasting gains for millions of children," said Sara Allan, president of Valhalla Foundation. 

To lead this effort, 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 — will serve as CEO of NextLadder Ventures. "For too long, we have relied on a one-size-fits-all approach to support people facing economic challenges," said Rippel. "To better serve those in need, we need new, practical pathways to opportunity that help 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." 

John Overdeck, philanthropist and business leader, has also pledged significant funding support to NextLadder Ventures. Overdeck's commitment stems from his strong belief in the importance of social mobility and the transformative potential of new technologies.

As part of this partnership, Anthropic will provide comprehensive support to NextLadder grantees. "Core to our mission is helping AI benefit humanity," said Elizabeth Kelly, head of beneficial deployments at Anthropic. "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."

NextLadder Ventures envisions a future where everyone has the opportunity and community support needed to thrive.

About NextLadder Ventures
NextLadder Ventures backs people with bold ideas for removing barriers to economic opportunity. This over $1 billion initiative brings together leading philanthropic funders to invest in entrepreneurs and emerging technologies that help individuals and families in the U.S. turn everyday challenges into personal pathways to success. By supporting personalized, tech-enabled solutions, NextLadder Ventures aims to make it easier for Americans to chart their own paths to prosperity.

About the Ballmer Group
Ballmer Group is committed to improving economic mobility for children and families in the United States by funding leaders and organizations that have demonstrated the ability to reshape opportunity and reduce systemic inequities. The group's grants focus on direct services that strengthen communities for today and levers of change that transform systems for tomorrow. Learn more at ballmergroup.org.

About the Gates Foundation
Guided by the belief that every life has equal value, the Gates Foundation works to help all people lead healthy, productive lives. In developing countries, the foundation works with partners to create impactful solutions so that people can take charge of their futures and achieve their full potential. In the United States, it aims to ensure that everyone — especially those with the fewest resources — has access to the opportunities needed to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman under the direction of Bill Gates and the governing board. Learn more at gatesfoundation.org.

About Stand Together
Stand Together is a philanthropic community that tackles the root causes of our country's biggest problems. It partners with the country's boldest change-makers to drive solutions that help define the American Dream with a focus on education, economic opportunity, strong and safe communities, bridging divides and other pressing issues. Learn more at standtogether.org.

About the Valhalla Foundation
Valhalla Foundation aims to drive measurable and meaningful improvement in the lives of children and families and the health of our planet through investments in six program areas: Early Childhood Development, K-12 Education, Data Science Education, Medical Research & Talent, Environmental Innovation and Collaborative Philanthropy. The foundation invests in ideas backed by robust evidence of impact and rooted in deep understanding of the needs of the communities it seeks to serve. Across its program areas, the foundation prioritizes working collaboratively with other funders to expand available resources for compelling ideas, build strong evidence of impact and improve the effectiveness of philanthropy. Learn more at valhalla.org.

About John Overdeck
John Overdeck is president of Overdeck Family Foundation and executive manager and co-chair of Two Sigma, a financial sciences firm. He is chair of the Institute for Advanced Study and the National Museum of Mathematics, and he serves as a trustee of the Robin Hood Foundation.

About Anthropic
Anthropic is an AI safety and research company that creates reliable, interpretable and steerable AI systems. Anthropic's flagship product is Claude, a large language model trusted by millions of users worldwide. Learn more about Anthropic and Claude at anthropic.com.

SOURCE NextLadder Ventures