Robin Hood, New York City mayor Eric Adams, and venture capitalist Alexis Ohanian have announced the launch of a $100 million Child Care Quality & Innovation Initiative for New York City.

Announced during Robin Hood’s annual event to benefit poverty-fighting efforts in New York, the initiative is funded with commitments of $50 million from Robin Hood—including a $25 million donation from Ohanian’s 776 Foundation—and $50 million from New York City. In total, Robin Hood raised $126 million at the event, all of which will support poverty-fighting programs citywide.

The Child Care Quality & Innovation Initiative aims to make high-quality, affordable child care more accessible while improving the quality of care. The funding will go toward expanding access in childcare deserts—neighborhoods without enough licensed childcare providers—and provide options beyond traditional working hours to accommodate parents with atypical schedules. The initiative also will oversee the creation of a single online portal to streamline the application process for vouchers and integrate them with existing benefits. In addition, it will support workforce development programs to help improve childcare quality across New York City, including encouraging models that compensate providers more fairly, reducing turnover, and creating opportunities for growth within the sector.

The Bezos Family Foundation committed $10 million in support of the initiative, while Blue Origin donated $8 million from the auction of a seat on its New Shepard rocket. The “buy one give one” auction was to enable a New York City public school teacher to travel to space alongside the winning bidder, Citadel founder and CEO Kenneth C. Griffin; at Griffin’s request, however, both seats will be given to public school teachers, in recognition of their commitment to advancing public education.

“I hope this moment will ignite the imagination of our students and inspire the next generation to push the boundaries of what humanity can achieve while underscoring the extraordinary role our teachers play in the lives of our children,” said Griffin.

(Photo credit: Robin Hood)