In this episode, Guy Cave, President of the Legatum Foundation, discusses how the foundation launches and scales collaborative funds that focus on ambitious, system-level change. Rather than distributing small grants, the foundation pilots approaches with local organisations, tests what works, and—when the potential for large-scale impact is clear—spins out independent funds with their own leadership, governance and investor base.

Guy traces the journey behind four existing funds: the END Fund, focused on neglected tropical diseases; the Freedom Fund, which addresses human trafficking and modern slavery; the Luminos Fund, bringing out-of-school children back into learning; and, most recently, the Resilio Fund, which supports community-led humanitarian response through micro-grants to hyper-local groups. Collectively, these funds have mobilised more than US$1 billion.

He also introduces two current pilots that may become future funds: care reform to help children move safely from institutions into family-based care, and criminal justice reform. Throughout the conversation, Guy unpacks how new ideas emerge, how evidence is generated, how partners are brought in, and how to let go so that independent funds—and their CEOs—can thrive.

For anyone interested in collaborative philanthropy, local leadership, or building vehicles that others can support, this episode offers practical insight into sequencing, partnership, and learning at scale.

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