MRI Frequently Asked Questions

A Mission-Related Investment, or MRI, is an investment that seeks both positive social impact and a risk-adjusted, market-rate financial return. MRIs allow Next50 to use investment capital as one of several tools for advancing our mission.

No single tool can create a world that values aging. Next50 uses MRIs alongside grants, Program-Related Investments, partnerships, advocacy, and convenings to advance our strategic goals. We will deploy MRIs to increase capital supporting mission-aligned ideas, strengthen markets that better serve people as they age, and prove the investment potential of the aging economy.

Grants provide charitable funding that does not need to be repaid. MRIs are meant to generate both positive social impact and market-rate financial returns. The two tools can complement one another, but they are evaluated, approved, and managed differently.

Program-Related Investments, or PRIs, are made primarily to advance a charitable purpose and may accept below-market or otherwise flexible financial terms. MRIs generally seek market-rate returns in addition to social impact. Both MRIs and PRIs are investment tools, but they serve different purposes and are governed by different financial and legal considerations.

Next50 prioritizes investments that contribute to one or more of our four investment goals:

• Expanding Economic Opportunity
• Championing Social Inclusion
• Shaping the Built Environment
• Advancing Healthy Aging

We evaluate opportunities through our Aging Investment Framework, which helps us understand how investments may contribute to a world where aging is valued. We also consider how an opportunity advances our investment goals, fits our broader strategy, and contributes to a diverse and coordinated portfolio.

Next50 invests across asset classes, including venture capital, private equity, private credit, real assets, public equities, fixed income, and other mission-aligned investment opportunities. Our MRI strategy is generally implemented through funds and other investment vehicles managed by investment professionals rather than through direct investments in individual companies.

No. Next50 does not invest directly in individual startups or operating companies through its MRI portfolio. We generally invest through funds and other investment vehicles managed by experienced investment professionals. This approach gives us access to specialized expertise, supports diversification, and helps us pursue both impact and financial objectives while managing risk.

Next50 values diversity, including within investment teams. We seek to invest in mission-aligned communities across all of our work, and seek investment teams that represent the populations they aim to serve. Manager diversity is considered alongside mission alignment, investment strategy, team capabilities, financial expectations, impact potential, and overall portfolio fit.

Next50 is a Colorado-based foundation with a national mission. While we maintain a strong interest in opportunities that benefit Colorado, we invest across the United States and evaluate opportunities based on mission alignment, impact potential, investment merits, and portfolio fit.

In terms of private market investments, we focus on U.S. investments through fund managers. We do have international exposure in our endowment through our public markets investments.

Next50 generally seeks risk-adjusted, market-rate financial returns alongside positive social impact. We evaluate both dimensions during due diligence and monitor financial and impact performance over time.

We evaluate both the intended and demonstrated social impact of investments and monitor impact over time. Our approach is designed to reflect the nature of each investment while helping us understand its contribution to Next50’s mission and investment goals. We work with investees to determine metrics that work for all parties.

We evaluate both the intended and demonstrated social impact of investments and monitor impact over time. Our approach is designed to reflect the nature of each investment while helping us understand its contribution to Next50’s mission and investment goals. We work with investees to determine metrics that work for all parties.