NET WORTH: Unknown
SOURCE OF WEALTH: Accel Partners
FUNDING AREAS: Youth Leadership Development & Education, Public Health, Global Development, Women's Empowerment
OVERVIEW: Kevin Efrusy and his wife Molly move their philanthropy through the Efrusy Family Foundation, which focuses on areas like youth leadership development and education in the US and Africa. The foundation appears to be recently minted, and has thus far moved modest amounts of money out the door. Grantmaking, though, seems to be on the rise. Molly serves on several nonprofit boards, which tracks with some of the family's giving.
BACKGROUND: Raised in the Chicago area, Kevin Efrusy attended Stanford University and graduated with engineering degrees, as well as an MBA. Efrusy founded Corio, a software-as-a-service pioneer that went public and was acquired by IBM in 2005. He also built and served as the first CEO of IronPlanet, an online marketplace for heavy equipment. Efrusy joined Accel Partners in 2003 and was the lead investor in a number of pioneering companies including Facebook, Groupon, and Couchbase.
YOUTH LEADERSHIP DEVELOPMENT/EDUCATION: The Efrusys support select youth leadership development and education organizations in the U.S. and abroad. They're involved with the African Leadership Foundation, which supports "transformative change in Africa by developing and connecting the continent's next generation of leaders" through partnership with the African Leadership Academy in South Africa. Molly is on the U.S. advisory council of the foundation and supports the outfit via their family foundation. Other Efrusy Family Foundation grantees have included Eastside College Preparatory School, Palo Alto Partners in Education, and The Future Project, "a national movement empowering young Americans to live with passion and purpose."
The couple has also supported Molly's school UC Berkeley, and the Efrusys' mutual alma mater Stanford, where they've helped fund the EXTREME design for extreme affordability program, in which "students learn to design products and services that will change the lives of the world’s poorest citizens."
PUBLIC HEALTH: Molly Efrusy is a member of the policy advisory council of UC Berkeley School of Public Health, from where she graduated. Molly worked in healthcare for a decade and a half. The couple through their foundation have supported the UC Berkeley School of Public Health.
GLOBAL DEVELOPMENT: Molly is a board member of Firelight Foundation, which "believes in the power of African communities to create lasting change for children and families affected by poverty, HIV, and AIDS." The Efrusys have supported Firelight through their family foundation. Other grantees have induced International Justice Mission, and Nuru International. The Efrusy Family Foundation has also directed funds to CAF America to support the Click Foundation and the Kronendal Music Academy both in South Africa. One of the Click Foundation's focuses is literacy.
WOMEN'S EMPOWERMENT: The Efrusys have supported Iqra Fund, a "nonprofit organization committed to serving girls in remote regions faced with economic, social, and political barriers to education."
LOOKING FORWARD: Kevin Efrusy is only in his mid 40s and still very much engaged in business, but Molly's board memberships and nonprofit involvements should be watched carefully. The couple's work on the international stage in particular may deepen significantly.
The Efrusy Family Foundation does not provide a clear avenue for getting in touch but below is an address:
The Efrusy Family Foundation
501 Silverside Rd., Ste. 123Wilmington, DE 19809