Our Story
Jeanne Voigt, a founding partner of Venn Foundation
Venn Initiative
Venn Foundation originally grew out of the Venn Initiative, which was conducted by the Jeanne M. Voigt Foundation (JMVF), a Minneapolis-based private foundation established by Jeanne Voigt after the sale of her company in 2003. Seven individuals and two private foundations, including Bush Foundation, partnered with and provided financial support to JMVF for the initiative. Jeff Ochs and Matt Norris joined Jeanne in volunteering their time.
The Venn Initiative, which lasted from 2015-2016, was designed to help spark the Twin Cities impact investing and social business ecosystem. The idea was to demonstrate that private foundations could use capital from their charitable distribution to make PRIs into charitably impactful, early-stage companies to help them achieve the milestones necessary to attract follow-on impact and for-profit investment.
Ultimately, JMVF made two $60,000 PRIs under the Venn Initiative, one to Minnepura Technologies and one to URTURN, both of which are Minnesota specific benefit corporations and both of which are still in operation and making progress on product development, partnerships, sales, and impact today.
Minnepura
Minnepura used its PRI capital to develop and commercialize its bioremediation technology to remove chemicals in pool water, which has the potential to save billions of gallons of water annually.
URTURN
URTURN used its PRI capital to further develop and test its smart-advising system with school districts to help all students, especially those from under-represented backgrounds, move along the pathway to higher education.
Jeanne, Jeff, Matt, and their partners emerged from the Venn Initiative convinced that PRIs are a powerful tool that foundations can and should be using regularly and creatively in many different issue areas. Yet they also knew from first-hand experience that the obstacles to making PRIs are many and real. In response, they incorporated Venn Foundation to help foundations and other types of philanthropists overcome these obstacles and to unleash the full power of PRIs to advance their missions.