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Investment Thesis: PRIs bridge community impact and market influence. They help finance solutions where patient, flexible, or concessionary capital can unlock impact that traditional grant funding or conventional financing alone may not achieve.

Why We Invest

PRIs are one way Next50 mobilizes aligned capital to advance its mission. They support opportunities where an investment can help an organization, enterprise, fund, or project grow, test, or sustain a solution that benefits older adults. PRIs allow Next50 to:

• Expand access to affordable and flexible capital for mission-aligned work.
• Support financially sustainable solutions that can repay or recycle capital over time.
• Demonstrate the effectiveness of investable models that improve affordability, inclusion, accessibility, or community participation for older adults.
• Attract additional public, philanthropic, or private capital into aging-related solutions.

Where We Invest

Next50 will consider PRI opportunities that advance one or more of the following investment goals:

Organizations don’t need to fit neatly into a single category. Many successful proposals may contribute to more than one category.

What We Look For

Applications are evaluated in two parts.

• All applications are reviewed using the same core evaluation criteria listed below
• All applications are also evaluated using the criteria specific to the priority area(s) the proposed work addresses: Expanding Economic Opportunity, Championing Social Inclusion, and/or Shaping the Built Environment.

Please note that Next50 seeks to build a diverse portfolio that balances innovation, learning, and measurable impact; therefore, additional factors – such as geographic diversity, potential for collaboration with other grantees, and other priorities – may be considered in funding decisions.

Part 1: Core Evaluation Criteria

Criterion	Guideline
Strategic alignment	The opportunity clearly advances one or more of Next50’s three PRI-eligible investment goals: Expanding Economic Opportunity, Championing Social Inclusion, or Shaping the Built Environment.
Impact potential	The investment addresses a significant challenge facing older adults and has the potential to produce meaningful and measurable outcomes, particularly for people experiencing economic, geographic, social, or accessibility barriers.
Financial viability	The opportunity demonstrates a reasonable pathway to repayment, sustainability, or capital recycling under the proposed investment structure.
Additionality	Next50’s capital fills a gap that conventional financing is unable or unlikely to address on comparable terms, such as the need for patient capital, lower-cost capital, flexible repayment, credit enhancement, or early proof of concept
Leverage and influence	The investment has the potential to attract additional capital, demonstrate a promising model, strengthen an emerging market, or influence broader systems that shape aging-related outcomes.

Part 2: Priority-Specific Evaluation Criteria

Review the criteria below for the priority area(s) your proposed work addresses.

Expanding Economic Opportunity

Click each header to expand the section

Championing social inclusion

Shaping the Built Environment

Cohorts and Collaboration

Next50 will pilot collaborative virtual learning cohorts to promote collaboration, shared learning, and greater collective impact. Grantees and Investees will be required to attend cohort meetings 1-2 times each year during the grant or investment period.

More details to come!

Potential Investment Structures

PRI structures will be tailored to the opportunity, expected impact, risk profile, and repayment pathway. Potential structures may include:

• Loans
• Loan guarantees
• Recoverable grants
• Lines of credit
• Other mission-aligned financing arrangements

Learning and Reporting

Next50 views reporting as an opportunity to understand progress, learnings, and broader influence. Next50 will require a check-in report every six months and a final report at the end of the investment term. Investees will submit all reports through the Next50 Grantee Portal. Reports will include a small set of questions asked of all investees, along with specific measures selected for the funded work. Reporting may address progress toward investment goals, challenges, system-level change or progress, innovation and adaptation, outcomes achieved, and the potential to sustain, expand, or build on the work. Next50 will provide clear reporting guidance and any applicable focus area instructions during the kick-off call.

Note: These guidelines are intended to describe Next50’s general PRI approach. They do not represent a commitment to invest and may be refined as Next50 continues to learn from its impact investing work.

Thank you for your interest in connecting with Next50. We welcome requests from organizations interested in exploring potential alignment with Next50’s funding priorities and other opportunities to work together.

Request a meeting with Next50

If you’ve explored our approach and strategic priorities and see a strong connection to your organization’s work, we’d welcome the opportunity to hear from you. Request a conversation with our team to explore alignment and opportunities to work together.

Next50 prioritizes meeting requests that appear most closely aligned with our current priorities. Due to the volume of inquiries we receive, we may not be able to meet with every organization that submits a request, and submitting this form does not guarantee an invitation to apply for funding.

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