Wallace Global Fund II

Wallace Global Fund II

The Wallace Global Fund is a private foundation established in 1996, deploying capital generated by Henry A. Wallace's founding of the Hi-Bred Corn Company. His grandson, H. Scott Wallace, serves as Co-Chair alongside great-grandson Scott Fitzmorris, anchoring family governance while professional staff run the mission. The fund blends grantmaking with a mission-aligned investment portfolio that spans venture capital, buyouts, and fund commitments. It has been an architect of the Divest-Invest movement, which pressures institutional holders to exit fossil fuels and redeploy into climate solutions. The portfolio engages across stages — from seed to late-stage expansion — and includes direct co-investments. Named geographies of focus include the United States and Europe. Altss estimates a $74 million endowment. The team operates from a single office in Washington, D.C., and does not disclose total deployment. February 2024 marked a leadership transition: Robby Rodriguez succeeded Ellen Dorsey, who had run the fund for 16 years and championed its shift toward activist investing. The fund co-founded Divest-Invest Philanthropy and holds memberships in Confluence Philanthropy and the Interfaith Center on Corporate Responsibility. The fund's structural differentiator is its hybrid identity — it operates simultaneously as a philanthropic grantmaker, a shareholder activist, and a direct investor in venture-stage companies. This triple mandate allows it to pressure public companies from the outside while building alternatives on the inside, a posture few foundations of its size can execute.