The Gates Foundation has ended its grantmaking relationship with Arabella Advisors, according to a report by the New York Times. The decision was made in late June and was attributed to Mark Suzman, the foundation’s chief executive.
The move has caused concern among progressive philanthropic organizations. Some nonprofits associated with Arabella Advisors are now seeking to distance themselves from the firm to maintain their ties with the Gates Foundation, which is known for supporting global health initiatives.
The Capital Research Center previously identified the Gates Foundation as one of the largest contributors to the Arabella-managed New Venture Fund between 2018 and 2022, second only to Fidelity Charitable. The contributions amounted to hundreds of millions of dollars.
Arabella Advisors responded through Megan Cartier, its chief marketing and communications officer: “Arabella argues that its critics vastly overstate its political influence and that it merely ‘provides operational supports to hundreds of philanthropic clients pursuing social change,’ Megan Cartier, Arabella’s chief marketing and communications officer, said in a statement. ‘We do not have donors, make grants, or engage in political activity.’”
However, there is ongoing debate about Arabella’s role. While Arabella states it does not directly handle donors or make grants, the nonprofits managed by the firm reportedly do so.
Financially, client departures could affect Arabella Advisors significantly. The New Venture Fund operates as a nonprofit but generates considerable revenue for Arabella Advisors itself—a for-profit company acquired by Concentric Equity Partners in 2020. According to an internal study from 2023, Arabella generated over $60 million in revenue in 2022.
For further details on this network and its influence within American philanthropy and politics, readers are directed to a book by Scott Walter, president of Capital Research Center.
