The U.S. government plans to spend hundreds of millions of dollars in venture capital funds overseas as part of an expanded federal program to do good around the world through what’s known as “impact investing.”
The program, unveiled Wednesday at a conference by the Overseas Private Investment Corporation, will dedicate around $200 million over the next few years in 10 to 15 venture funds that focus primarily on making a social impact in overseas countries. The exact amount of money allocated could change, but is expected to be in the hundreds of millions of dollars.
