The UP Fund

The UP Fund is a $50 million pool of catalytic capital investing in 8-12 Career Impact Bonds to help low-income students secure good jobs in a changing economy. The Career Impact Bond is a student-friendly financing model that expands access to career training and support, which includes wraparound support services to help students graduate and pursue in-demand career pathways.

Designed for individuals who face barriers to employment, Career Impact Bonds can help our country make an equitable recovery from the Covid-19 pandemic by upskilling and retraining displaced workers. The UP Fund offers a sustainable platform to scale Career Impact Bonds to address this urgent need.


Leveraging recyclable impact capital

The UP Fund will deploy $50 million in catalytic capital to fund program costs, with repayment contingent upon the economic wellbeing of students.

Expanding access to in-demand sectors

The UP Fund supports Career Impact Bonds that enable people who face financial or educational barriers to build careers in recession-resistant sectors like IT, health care, skilled trades, and green energy.

Bridging opportunity and skill gaps

The UP Fund helps individuals upskill and achieve increased economic mobility while enabling businesses to find key talent.

UP Fund supporters include Blue Meridian Partners, Schmidt Futures, Vanguard Charitable, The John D. and Catherine T. MacArthur Foundation, Pershing Square Foundation, The Michael and Susan Dell Foundation, W.K. Kellogg Foundation, and others.

With generous support from Strada Education Network, MDRC is conducting a multi-year study of the UP Fund’s Career Impact Bond model across different training providers, industries, and student populations.

Contact Us

If you are interested in learning more about the UP Fund or reviewing the offering documents, contact Vice Presidents Andrew Chen or Jake Edwards.

Social Finance UP Fund Website Notices

This Website displays information about the UP Fund, L.P., a Delaware limited partnership (the “Fund”). Such information is provided for information purposes only and does not constitute an invitation, offer or solicitation to buy interests in the Fund. Any offering of Interests in the Fund only will be made to “accredited investors” as defined in Regulation D under the United States Securities Act of 1933, as amended, pursuant to a confidential private offering memorandum, the Fund’s agreement of limited partnership and a subscription agreement which may be furnished to qualified investors on a confidential basis.

All information is provided for informational purpose only and does not constitute, and should not be construed as, investment advice or a recommendation to buy, sell or otherwise transact in any security or investment, including, but not limited to interests in the Fund or Career Impact Bonds.

If you have any questions about this Website or the information on it, please contact Social Finance at