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Charity the Omidyar Network has announced that it has leased an office in London in Shoreditch.
The Omidyar Network is one of the largest philanthropic investment firms in the world and the new London office will serve as its European headquarters.
To be led by investment partner Stephen King, the office will also serve as the global hub of the network’s Government Transparency initiative.
King made the announcement about the new office at The Power of Information: New Technologies for Philanthropy & Development conference in London.
He stated: “Today marks an important milestone for Omidyar Network. The opening of our London office broadens our reach in helping create opportunity for individuals through investments in market-based solutions.
“A greater concentration of efforts in this region of the world will enable us to work more closely with portfolio partners, create new collaborations and explore new investment opportunities. The vibrancy and promise of the Shoreditch area, we feel, are particularly appropriate for Omidyar Network.”
King added that he believes the ‘entrepreneurial spirit’ of the area reflects the organizations belief in the innovative use of technology to help businesses scale their business models.
The Omidyar Network was founded by eBay founder Pierre Omidyar and his wife Pam in 2004.
Among the activities of the Omidyar Network is the donation of grants and investments to companies and projects across five initiative areas. In the last two years the firm has invested over USD 40 million in transparency efforts around the world.
King also announced recently that the network is to expand its areas of influence into Poland, Turkey, Ukraine, Brazil, Mexico, Egypt, Indonesia and the Philippines.
The Omidyar Network also recently announced another USD 3 million in grants to various government transparency organizations.