• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Exclusive

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

An hour in the Oval Office with President Trump.

TechFortune 500

This Is Where Mark Zuckerberg’s Philanthropy Project Will Be Investing First

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
June 16, 2016, 8:45 AM ET
Facebook Hosts Conference On Future Of Social Technologies
SAN FRANCISCO - APRIL 21: Facebook founder and CEO Mark Zuckerberg delivers the opening keynote address at the f8 Developer Conference April 21, 2010 in San Francisco, California. Zuckerberg kicked off the the one day conference for developers that features breakout sessions on the future of social technologies. (Photo by Justin Sullivan/Getty Images)Photograph by Justin Sullivan — Getty Images

Facebook founder Mark Zuckerberg’s philanthropy venture has made its first major investment, leading a funding round in a startup that trains and recruits software developers in Africa.

The Chan Zuckerberg Initiative, created by Zuckerberg and his wife Priscilla Chan, led a $24 million Series B funding in Andela, the startup said on Thursday.

Alphabet’s GV, previously known as Google Ventures (GOOGL), was also part of the funding round.

Andela selects the top 1% of tech talent from Africa, trains them and places them in engineering organizations.

Get Data Sheet, Fortune’s technology newsletter.

The startup, which has nearly 200 engineers currently employed by its Nigeria and Kenya offices, will use the funds to expand to a third African country by the end of 2016.

“We live in a world where talent is evenly distributed, but opportunity is not. Andela’s mission is to close that gap,” Zuckerberg said in a statement.

When the philanthropy initiative was launched in late 2015, Zuckerberg said he would put in 99% of his Facebook (FB) shares.

The initiative is structured as a limited liability company. This means, unlike a traditional charitable or philanthropic foundation, the venture can make political donations, lobby lawmakers, invest in businesses, and recoup any profits from those investments.

Zuckerberg has also signed the Giving Pledge, which invites the world’s wealthiest individuals and families to commit to giving more than half of their wealth to philanthropy or charitable causes over their lifetime or in their will.

About the Author
By Reuters
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

haidt
AIGen Z
A record number of 18-year-olds are set to graduate into an economy designed against them
By Nick LichtenbergMay 18, 2026
54 minutes ago
A panel on Gen Z workers sit alongside Fortune's Kristin Stoller at the Fortune Workplace Innovation Summit.
NewslettersFortune Workplace Innovation
AI in the workplace is stumbling. Fortune’s Workplace Innovation Summit will dive in to why
By Kristin StollerMay 18, 2026
2 hours ago
charlie
CommentarySoftware
Anaplan CEO: AI isn’t eating software. It’s sorting it
By Charlie GottdienerMay 18, 2026
3 hours ago
Carl Fritjofsson smiles in a blue t-shirt
Startups & VentureTerm Sheet
The AI boom is pulling Europe’s hottest startups to the U.S.—whether they planned to move or not
By Lily Mae LazarusMay 18, 2026
3 hours ago
SpaceX COO Gwynne Shotwell in Barcelona, Spain on March 2, 2026. (Photo: Angel Garcia/Bloomberg/Getty Images)
NewslettersFortune Tech
What to expect from a SpaceX IPO
By Andrew NuscaMay 18, 2026
5 hours ago
How a mom-and-pop car wash chain went from sticky notes to AI-powered operations that are upleveling every part of the company
AIAutomation
How a mom-and-pop car wash chain went from sticky notes to AI-powered operations that are upleveling every part of the company
By Sage LazzaroMay 18, 2026
6 hours ago

Most Popular

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
AI
Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
By Jake AngeloMay 16, 2026
2 days ago
The top foreign holders of U.S. debt may soon dump Treasury bonds and bring their money back home, potentially spiking borrowing costs
Economy
The top foreign holders of U.S. debt may soon dump Treasury bonds and bring their money back home, potentially spiking borrowing costs
By Jason MaMay 17, 2026
21 hours ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
6 days ago
'No one was coming to save me': How Reese Witherspoon built a $900 million company from a problem Hollywood wouldn't fix
Success
'No one was coming to save me': How Reese Witherspoon built a $900 million company from a problem Hollywood wouldn't fix
By Sydney LakeMay 17, 2026
1 day ago
SpaceX heads into a record-shattering IPO with the 'deepest moat that exists today' as investors vow to 'never bet against Elon'
Innovation
SpaceX heads into a record-shattering IPO with the 'deepest moat that exists today' as investors vow to 'never bet against Elon'
By Jason MaMay 16, 2026
2 days ago
Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 
Politics
Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 
By Jason MaMay 16, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.