An invitation-only family philanthropic network in Mumbai, India will be launched in August with the goal of having 5,000 members by 2030 who will annually give a collective $1 billion to charitable causes in India.
Membership in GivingPi — which already includes the Bill and Melinda Gates Foundation — will be extended to families through referrals of existing members and contingent on the approval of the GivingPi membership committee.
Members can be involved with causes across any sector but need to contribute a minimum of INR 50 lakhs ($64,000 U.S.) annually toward the development sector in India, according to information on the GivingPi website and via an announcement.
According to media reports, supporters also include philanthropists Aditi and Rishad Premji, Manisha and Ashish Dhawan, Nikhil Kamath, Nisa Godrej, Rajan Navani, Rohini Nilekani, Skoll Foundation, Tara Singh Vachani, Vasvi Bharat Ram, and Vivek Jain.
The GivingPi leader is Jyotirmoy Chatterji, described on his LinkedIn profile as a “systemic change evangelist” who has served as a consultant for NGOs and government.
GivingPi is being incubated as an independent initiative under the aegis of Dasra, an Indian philanthropic organization founded in 1999. According to the GivingPi website, the network will be aligned with the United Nation’s Sustainable Development Goals for India that are targeted for achievement by 2030 but at current rates of progress might only be achieved by 2094 unless family philanthropy is accelerated.
The invitation to join GivingPi includes an offering of an “inaugural cohort to a select group of 75 families,” along with the creation of a group of Founders Circle members who want to build the family philanthropy movement in India and are willing to contribute towards the operating costs of GivingPi.
“Currently, India has 113 billionaires and 6,884 ultra high-net-worth individuals, expected to grow to 12,000 in the next 5 years. Unlocking the philanthropic capital of this cohort would put India on a new growth trajectory, resulting in a transformed, inclusive nation,” according to information on the GivingPi website.