# Michelson 20MM Foundation

Michelson 20MM Foundation is a Foundation based in Los Angeles, US.

## Overview

- **Organization type:** Foundation
- **Headquarters:** Los Angeles, US
- **Region:** North America
- **Address:** Los Angeles, CA, United States
- **Assets under management:** Undisclosed
- **Website:** michelson20mm.org
- **LinkedIn:** https://www.linkedin.com/company/the-michelson-20mm-foundation

## Regulatory record

- **Reports private funds:** No

## About

Michelson 20MM Foundation was founded by Dr. Gary K. Michelson. The foundation supports and invests in entrepreneurs, technologies, models, and initiatives with potential to improve postsecondary access, affordability, and efficacy. Investments include New Apprenticeship (September 15, 2021) and Mainstay (portfolio exit, March 24, 2026).

## Sectors

- Education
- Social Impact
- Healthcare Services
- Civic Tech

## People

- Gary Michelson — Founder

## Questions

### Who founded the Michelson 20MM Foundation and what is the source of its wealth?

The foundation was founded by Dr. Gary Michelson, a spinal surgeon and prolific inventor. He sold a portfolio of surgical patents to Medtronic in 2005 for an estimated $1.35 billion, providing the endowment for the foundation.

### How does the Michelson 20MM Foundation deploy its capital?

It uses a hybrid model of traditional grants and program-related investments (PRIs). PRIs are below-market-rate loans or equity investments in startups and nonprofits that align with its mission, such as open-education platforms and medical-device innovation.

### What sectors does the Michelson 20MM Foundation focus on?

The foundation prioritizes education equity and medical research. Specific initiatives include reducing student debt through open textbooks, supporting biomedical innovation, and funding civic tech that improves public policy outcomes.

### Is the Michelson 20MM Foundation structured as a traditional grantmaker or an impact fund?

It is a philanthropic foundation that operates with a venture-philanthropy lens. It makes recoverable grants and equity investments, recycling returns into new mission-aligned projects, which is closer to an impact fund than a purely charitable entity.

### Does the foundation participate in co-investments alongside external partners?

While not widely advertised, the foundation's program-related investments are occasionally made alongside other mission-aligned funders. For example, its Open Textbook initiative has partnered with the William and Flora Hewlett Foundation and other education advocates.

### What is the relationship between the Michelson 20MM Foundation and other Michelson entities?

The foundation is part of a family of organizations funded by Gary Michelson. It operates independently from the Michelson Center for Public Policy and the Michelson Medical Research Foundation, though all share the same founder and overarching philanthropic mission.

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- [Huatai Innovation Investment](https://altss.com/profile/huatai-innovation-investment)
- [Colibri Technologies](https://altss.com/profile/colibri-technologies)

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Last updated: 2026-06-03T20:00:00.000Z

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