Venture Capitalist, Peter Levine, Provides Multimillion Dollar Gift to Launch 'Levine Impact Lab' at Honnold Foundation
The Lab promises to combine venture-capital expertise and inspired philanthropic thinking to radically amplify the value of giving.
LAS VEGAS, Oct. 18, 2022 /PRNewswire/ - The Levine Impact Lab, a new initiative funded by venture capitalist and environmentalist Peter Levine in partnership with the Honnold Foundation – a community development, solar-focused non-profit founded by world-renowned rock climber Alex Honnold – is set to empower grassroots leadership in communities around the world by providing them the resources and capacity-building funds required to play an active role in combating environmental and social injustice.
Levine has pledged a multimillion-dollar financial gift for the next three years to launch the Lab, with the intention of scaling its programs over time. This is in addition to his commitment to provide personal time to advise grantees, connect them with his broad network, and work to develop their operations. The Lab will offer long-term support to organizations and individual leaders who otherwise might lack access to the best-in-class resources typically reserved for VC funded startups.
"The repercussions of climate change are felt in every corner of the world with rising temperatures, increased frequencies of natural disasters, food and water insecurity, and economic disruption," said Honnold. "Meanwhile, communities on the frontlines of the climate crisis are receiving the least amount of support, despite the best efforts of grassroots organizations and community leaders." He added, "Peter and I have a shared vision to change this. It's long been a goal at Honnold Foundation to offer additional support to our grantee Partners, and the opportunity to work more closely with Peter, someone I've admired for many years, made perfect sense."
"I've been involved with the Honnold Foundation and a supporter of Alex's vision for a long time, and the Lab is an evolution of our longstanding relationship," said Levine. "In my work, I've seen that money plus time equals the best outcome. So, it's not just the dollar donation, it's the fact that our team is willing to bring the concepts of best-in-class venture capital and company-building to nonprofits, striving to get the best outcomes for the organizations we serve."
Focused on organizational development, capacity building, individual leadership, networking, and financial support, each cohort enrolled in the Lab will attend a three-year program to strengthen their skills in strategy, operations, and governance, as well as executive coaching and leadership development, and partake in a series of networking and mutual learning opportunities.
With plans to partner with 50 initiatives from around the world by 2050, the Lab will work towards supporting the United Nations' Sustainable Development Goals 7 and 13, described as ensuring access to affordable, reliable, sustainable, and modern energy for all and taking urgent action to combat climate change and its impacts.
Among the initial cohort of domestic partners, the Lab will be working with grassroots organizations that include:
- Native Renewables empowers Native American families on the Hopi and Navajo Nations to achieve energy independence by improving access to solar energy and providing off-grid power solutions.
- BK Rot, Inc. based out of Brooklyn converts organic waste from local businesses into high-quality compost, while also providing employment opportunities and valuable experience to low-income communities.
- Chicago Eco House fosters bottom-up economic development in the under-resourced Englewood neighborhood by transforming vacant land into flower farms and employing local youth to grow, maintain, and sell their products.
Commenting on her organization's enrollment in the Lab, Suzanne Singer, executive director of Native Renewables, said, "We are thrilled to be a part of the first Lab cohort! This type of investment is so valuable for smaller nonprofits, we are excited to apply the resources and tools we gain over the next three years to growing our impact in tribal communities."
The Lab's launch coincides with the Honnold Foundation's 10th anniversary and $2M investment goal. Established in 2012, the Foundation's work to expand solar energy access in marginalized communities began with Honnold's commitment to contribute a third of his income each year. Ten years, 40+ Partners, and 30+ countries later, the Honnold Foundation has expanded its investments exponentially. In addition to the launch of the Impact Lab, the Honnold Foundation plans to continue to strategically target community-based solar energy projects, with an emphasis on projects that are scalable, equitable, community driven, and located in traditionally underfunded regions facing the immediate effects of the climate crisis.
The Honnold Foundation (HF) partners with marginalized communities to expand equitable solar energy access. Founded in 2012 by professional rock climber Alex Honnold, we believe that energy should be clean, affordable, and accessible for everyone. HF provides funding, project management, and a storytelling spotlight to nonprofit partners worldwide, who are using solar energy to create opportunity, increase social equity, and build more resilient communities. To learn more, visit www.honnoldfoundation.org.
Alex Honnold is a professional rock climber best known for his ropeless ascents of some of the world's biggest rock walls. As a matter of principle and practicality, he lives as simply as possible. The Honnold Foundation, founded in 2012, is an extension of that ethic. His initial commitment was a third of his income, which inspires the Lab's belief in radical giving, and his athlete's approach to risk management informs the Lab's belief in making big bets. In 2022, the Honnold Foundation will support twenty-four partners in nearly twenty countries, representing a two-million-dollar investment.
Peter Levine, currently a general partner at venture-capital firm a16z, brings to the Lab nearly three decades' experience with leading businesses and investing. Originally a software engineer, he rose to senior vice president and general manager of the data center and cloud division at Citrix before turning to VC investing. His leadership experience and belief in "the CEO as cultural epicenter" shapes the Lab's focus on sharpening individuals' skills; likewise his commitment to open-source software has informed the Lab's intention to create and share a "framework" that demonstrates new models of independence, resilience, and growth for the nonprofit sector.
SOURCE Honnold Foundation
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