Minds Matter Bay Area
Igniting the potential of young people in partnership since 2019.
About: Minds Matter Bay Area (MMBay) is an education nonprofit that connects driven and determined students from low-income families with the people, preparation, and possibilities to succeed in college, create their future, and change the world.
Challenge: MMBay wanted to significantly expand the number of young people they support. The non-profit also wanted to strengthen their fundraising muscle, diversifying their corporate network of corporate and individual supporters who - like Permira - believe in them and want to invest in their direction of travel.
Permira Foundation’s investment thesis: In 2019, Permira teams began guiding MMBay’s growth strategy to help them achieve their long-term goals. We began engaging at every level of the organisation —from chairing the Board of Directors and sitting on the Associate Board, to acting as mentors and academic tutors for the young people they support. We also launched an annual ‘Summer Scholars programme’ with Minds Matter across our US offices; a week long boot camp to give young people who might not have the opportunity an insight into private equity.
Impact: MMBay have retained an impressive impact track record – with their students being 25 times more likely to graduate from college than their peers from similar backgrounds. They have achieved this whilst having grown by x4 since 2019. Measuring MMBay’s impact over time, 100% of their mentees have been accepted into 4-year college courses and 100% of their alumni are on track to graduate within 5 years, setting students up to excel in the workplace. The Permira Summer Scholars programme has also introduced 100+ young people to our sector.
What’s next – our shared ambition going forward: Over the next 3 years (2024-27) the MMBay will grow to nearly double the number of students it will serve from 80 to 150 high school students, and from 230 to 340 college-going and young professional alumni. Minds Matter Bay Area’s expansion into San Jose will also serve 48-60 additional students, more than doubling the students the chapter serves in aggregate. We are committed to continuing to invest in MMBay, supporting them to deliver the same high quality, and free, service for students in all areas, whilst continuously growing their fundraising capabilities in line with their growth.