The NewSchools Venture Fund in Oakland, California, has announced that it will invest more than $100 million over the next three years in a new strategy aimed at creating more equitable futures for young people.

The organization's new strategy calls for significant investments in four areas: diverse leaders, innovative public schools, learning solutions, and racial equity. Learning solutions — which will integrate the fund's education technology and model provider portfolios — and racial equity are new areas of focus for the fund. According to the organization, the new approach is designed to advance work that already has momentum, eliminate obstacles to equity, and support educators who are leading critical work. To that end, NewSchools is conducting research on organizations and solutions that address the ways in which racial bias and systemic oppression impact students and families.

The organization also announced the promotion of Frances Messano, who has been serving the organization as a senior managing partner, to the newly created position of president.

"NewSchools has always provided funding to innovators working to improve public education in three areas: schools, tools, and people. Throughout our history, we have offered risk capital, coaching, and connections to an increasingly diverse group of visionary leaders," NewSchools CEO Stacey Childress wrote in a blog post. "As we build on what we've learned from our work over the last five years and the tumultuous education context of 2020, we are encouraged to see much progress and potential. We believe we are onto something in partnership with our community of educators and innovators. And there is so much more for us to do."