Venture for America

Carrie Murphy became CEO in February 2024, succeeding Eric Somerville, who had led the organization since 2017. Murphy previously served as VFA's Chief Experience Officer, overseeing alumni engagement and Fellow programming. The organization was founded by Andrew Yang in 2011; he departed in 2017 to run for President and is no longer involved in operations.

No. VFA is a nonprofit talent intermediary, not an investment vehicle. It does not make direct investments, take board seats, or hold equity in partner companies. Fellows receive salaries from their host employers; VFA covers programmatic costs through philanthropic donations and corporate sponsorships.

Partner companies tend to be early-stage or growth-stage businesses with 10–200 employees, headquartered in VFA's target cities. Sectors are broad: Shinola in Detroit (consumer goods), Roadtrippers in Cincinnati (travel tech), and ZeroFox in Baltimore (cybersecurity) illustrate the diversity. Companies must demonstrate the ability to provide meaningful, salaried work to high-potential early-career employees.

VFA is a 501(c)(3) nonprofit funded through a combination of foundation grants, corporate sponsorships, and individual donations. The UBS Americas Foundation and the Bill & Melinda Gates Foundation were early backers. Annual revenue has scaled back from approximately $5.5 million in 2016 to a stable baseline near $3 million following the pandemic, reflecting a shift from rapid growth to a more focused program model.

The program emphasizes mid-sized metro areas. Early anchor cities included Detroit, Cleveland, Baltimore, New Orleans, and Cincinnati. The organization added Los Angeles and Atlanta as additional operational hubs in more recent cohorts, though the precise city roster shifts based on employer demand and local funding partnerships.

VFA is structured as a nonpartisan 501(c)(3) and does not engage in electoral politics. Founder Andrew Yang departed in 2017 to pursue political office, and the organization has since focused on execution and alumni support rather than policy advocacy. The current leadership under Carrie Murphy emphasizes community-building and economic development, not political messaging.

Andrew Yang founded VFA in 2011 and served as CEO until his departure in 2017 to run for President. He holds no formal operational role, and the organization has been led by a succession of professional nonprofit executives since his exit. VFA's brand is historically tied to Yang's founding story, but its current strategy is institutionally separate from his political career.