scorecardresearch
Intel Logo

Family philanthropists launch GivingPi, look to raise $1 billion annually by 2030

Currently, India has 113 billionaires and 6,884 ultra high net worth individuals, which is expected to grow to 12,000 in the next five years.

givingpi launch
By 2030, GivingPi aims to have 5,000 members, annually giving $1 billion to diverse social causes in the country. (Representative image)

Leading philanthropists and Dasra have come together to launch GivingPi, India’s first and exclusive family philanthropy network. The invite-only network will be launched in August, and is focused on growing the ecosystem of family philanthropy, a press statement said.

GivingPi, focused on family-giving by philanthropists for philanthropists, is founded with support from Aditi and Rishad Premji, Bill and Melinda Gates Foundation, Manisha and Ashish Dhawan, Nikhil Kamath, Nisa Godrej, Rajan Navani, Rohini Nilekani, Skoll Foundation, Tara Singh Vachani, Vasvi Bharat Ram, and Vivek Jain.

By 2030, GivingPi aims to have 5,000 members, annually giving $1 billion to diverse social causes in the country. The network, the statement said, is committed to creating a vibrant community of family givers by supporting them on their giving journey, nurturing collaboration and growing family philanthropy. Families can be involved with any cause or approach, but need to be contributing a minimum of Rs 50 lakh annually towards the development sector in India.

The GivingPi network will provide philanthropy-focused offerings such as connections to credible NGOs and trusted philanthropy advisers, peer networking, theme-based learning and collaborative funding opportunities while also mainstreaming the narrative around family philanthropy in India. Members of this community will share and learn from lived experiences and insights, thereby accelerating their own giving journeys and collectively grow India’s giving pie.

Currently, India has 113 billionaires and 6,884 ultra high net worth individuals, which is expected to grow to 12,000 in the next five years. As per Bain and Company and Dasra’s India Philanthropy Report 2021, if these families are inspired to give in line with their global peers, family philanthropy could generate an additional annual investible corpus of Rs 60,000-100,000 crore for the development sector.

Neera Nundy, co-founder, Dasra, said: “Families are powerful constructs for driving social change, but their giving gets overshadowed by CSR. Family philanthropy has tremendous potential that once unleashed can be transformative for India’s development.”

Jyotirmoy Chatterji, head of GivingPi, said: “We aim to reach 200 members this year, and are already close to reaching our goal of 75 select members by India@75. This will be the largest network of family-givers for India and will ignite collective benefits for all.”

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.