The Avangrid Foundation

The Avangrid Foundation is an independent, nonprofit organization serving as the philanthropic arm of Avangrid, Inc., a leading sustainable energy company. Established in 2002, the Foundation is dedicated to supporting initiatives that align with its parent company's commitment to sustainability and community engagement. Its primary mission is to contribute to the vitality of the communities where Avangrid operates, focusing on key areas such as education, environmental stewardship, community development, and arts and culture.

The Foundation operates as a grant-making entity, providing financial support to a diverse portfolio of non-profit organizations. Its funding is directed towards programs and projects that foster sustainable development, promote educational opportunities, enhance community well-being, and enrich cultural experiences. Since its inception, The Avangrid Foundation has awarded over $38 million in grants to various organizations across the United States. In 2023 alone, it distributed approximately $3.8 million in grants, demonstrating its ongoing commitment to its philanthropic objectives.

It is important to note that The Avangrid Foundation functions as a corporate philanthropic foundation, not a venture capital firm. Its financial contributions are in the form of grants to non-profit organizations for specific programs and initiatives, rather than equity investments in for-profit startups. Consequently, the typical metrics associated with venture capital funding, such as "first cheque size" for equity investments, are not applicable to its operational model. The Foundation's focus is on charitable giving and community support through grants, rather than seeking financial returns from startup investments.