# Ulupono Initiative

Ulupono Initiative is an Asset Manager based in Honolulu, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Honolulu, United States
- **Region:** North America
- **Address:** Honolulu, HI, United States
- **Founded:** 2009
- **Assets under management:** Undisclosed
- **Website:** www.ulupono.com
- **LinkedIn:** https://www.linkedin.com/company/ulupono-initiative

## Regulatory record

- **Reports private funds:** No

## About

Ulupono Initiative is a for-profit impact investment firm committed to a sustainable, resilient Hawaiʻi. It works toward sustainable solutions that support locally produced food, renewable energy, clean transportation, and better management of fresh water. Ulupono typically focuses each year on several investments of $1 million to $3 million in key mission projects, spanning both the for-profit and non-profit sectors to advance greater self-sufficiency for Hawaiʻi.

## Sectors

- Energy Transition & Renewables
- AgriTech & FoodTech
- Real Estate
- Infrastructure
- Waste & Water

## People

- Pierre Omidyar — Founder
- Pam Omidyar — Founder
- Murray Clay — President

## Questions

### Who runs investment decisions at Ulupono Initiative?

President Murray Clay leads the firm's investment activities from Honolulu. Pierre and Pam Omidyar, who funded the firm with eBay wealth, set the strategic mandate but day-to-day investment execution sits with Clay and the Ulupono team. The firm does not publicly detail its investment committee structure.

### How is Ulupono Initiative related to the Omidyar Network?

Both were funded by Pierre and Pam Omidyar, but they operate as entirely separate entities. The Omidyar Network is a global philanthropic investment firm with offices in Washington, D.C., London, and Mumbai. Ulupono Initiative invests exclusively in Hawaii and is structured as a for-profit firm, though it maintains a philanthropic arm through the Ulupono Fund at Hawaii Community Foundation.

### What is Ulupono's role in Hawaii energy regulation?

Ulupono has been an active intervenor in Hawaii Public Utilities Commission proceedings, advocating for performance-based regulation (PBR) frameworks with Hawaiian Electric. This regulatory engagement is a core part of its investment strategy — shaping the utility rate structure that determines the economics of its distributed energy and efficiency portfolio.

### Does Ulupono own physical land assets in Hawaii?

Yes. Public records confirm Ulupono holds agricultural land, including Kapalua Farms in West Maui and a dairy site at Mahaulepu on Kauai, where it has pursued Hawaii Dairy Farms. These are operational farmland holdings integrated into its local food production investment thesis, not passive real estate positions.

### How does Ulupono source its deals given the narrow geographic focus?

Ulupono sources through deep local networks: it partners with established Hawaii entities like Parker Ranch and Alexander & Baldwin, participates in industry groups including the Chamber of Commerce Hawaii, and engages in regulatory and land-use proceedings that surface investment opportunities. The firm's concentrated geography means deal flow comes from operating within Hawaii's business and policy ecosystem rather than a traditional institutional sourcing funnel.

## Related profiles

- [Ulua VC](https://altss.com/profile/ulua-vc)
- [Ulu Ventures](https://altss.com/profile/ulu-ventures)

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Last updated: 2026-08-11T15:08:22.057Z

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