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The Legatum Center
The Legatum Center at MIT — a foundation-backed institute funding entrepreneurs in low-income countries, with a $100M endowment and Legatum Group ties.
The Legatum Center
The Legatum Center at the Massachusetts Institute of Technology was founded in 2007 with an endowment from the Legatum Group, the Dubai-based private investment firm of Christopher Chandler. The Center operates as an academic institute within MIT's Sloan School of Management, not as a standalone family office. Christopher W. Kendall serves as Executive Director, overseeing a team that combines faculty, researchers, and program staff. The Center's primary deployment vehicle is the Legatum Fellowship, which supports MIT graduate students who launch businesses in low- and lower-middle-income countries. It also runs the Prosperity Research Initiative, which funds academic studies on the link between entrepreneurship and economic development. The Center does not make direct equity investments in startups but provides grants and stipends. Its focus regions include sub-Saharan Africa, South Asia, and Southeast Asia, with a particular emphasis on Kenya, India, and Bangladesh. The Center's endowment is approximately $100 million, drawn from the Legatum Group's initial gift and subsequent contributions. It maintains an office at MIT's Cambridge campus. The Center also manages the Legatum Foundation's grant-making in entrepreneurship and development. Notable program alumni include the founders of Zola Electric (Tanzania) and Sokowatch (Kenya), per public records. The Legatum Center is structurally distinct from a traditional family office: it operates as a university-based institute with academic freedom from its donor. Its mandate is to generate public knowledge, not private returns. This academic separation is intentional, allowing research and fellowship selection to proceed independently of the Legatum Group's commercial interests.
General information
Firm type
Operating Foundation
Year founded
2007
AUM
Approximately $100 million (per public record)
Location
Region
North America
Country
United States
City
Cambridge
Corporate office
Cambridge, MA, United States
Principals
Christopher W. Kendall
Executive Director
Mark A. Carney
Board Member
Sector focus
Frequently asked questions
Who runs investment decisions at The Legatum Center?
Christopher W. Kendall, Executive Director, oversees the Center's programs and grants. Investment decisions are made by a committee of MIT faculty and staff, guided by the Center's mission to support entrepreneurs in low-income countries.
How does The Legatum Center source proprietary deal flow?
The Center does not source deals in the traditional sense. It selects Legatum Fellows through an application process open to MIT graduate students. Fellows are chosen based on their venture's potential for economic impact in low-income communities.
Is The Legatum Center structured as a single family office or does it operate more like a venture firm?
Neither. The Center is an academic institute within MIT's Sloan School of Management. It operates as a grant-making foundation, not a for-profit investment vehicle. Its funding comes from the Legatum Foundation, but it has independent governance.
Does The Legatum Center participate in fund commitments or only direct deals?
The Center only makes grants and fellowships. It does not commit capital to external funds or make direct equity investments. Its financial support takes the form of stipends, research grants, and program expenses.
What investment stages does The Legatum Center typically target?
The Center supports early-stage ventures, typically at the idea or prototype stage. Fellows often work on startups while still at MIT, and the Center provides funding for proof-of-concept work and initial customer discovery.
Which sectors does The Legatum Center explicitly avoid?
The Center does not have a published list of excluded sectors, but its focus is on ventures that create economic opportunity in low-income countries. It typically avoids capital-intensive industries such as oil and gas, mining, and large-scale manufacturing.
How is The Legatum Center related to the Legatum Group and Legatum Foundation?
The Legatum Center was established with a founding endowment from the Legatum Group, the private investment firm founded by Christopher Chandler. The Legatum Foundation, also created by Chandler, makes grants to the Center and other organizations. The Center operates independently from both entities, with its own board and academic leadership.
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