Omidyar Network Commits $10M to White House Social Innovation Fund

Omidyar Network, the Silicon Valley philanthropic investment firm established by eBay founder Pierre Omidyar and wife Pam committed $10 million over two years to the White House Social Innovation Fund.

The DC-based fund, launched last year by the Corporation for National and Community Service, provides capital to expand innovative local programs that help solve critical national problems such as poverty, failing schools and childhood obesity.

The fund, which is actively supported by the Obamas, expects to award up to $50 million to as many as 10 organizations this fiscal year.