Fast Company profiles GIIN Investors' Council member Omidyar Network for its unique funding model which uses both impact investing and philanthropy to achieve social goals.

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"Old school charity and 'philanthropy' once referred exclusively to financial contributions to nonprofits. Today, Omidyar Network (ON) takes a more innovative and inclusive approach, called 'flexible capital.' As a philanthropic investor, ON invests in for-profits, as well as nonprofits.

"Here's the deal. Whether they are for-profits or nonprofits, ON's beneficiaries are chosen because they seek to achieve the ultimate outcome that ON strives for: 'individual participation that can catalyze economic, social, and political advancement on a global scale.' Omidyar Network was established in 2004 by eBay founder Pierre Omidyar and his wife Pam. To date, ON has committed more than $363 million to enterprises in microfinance, property rights, consumer Internet, and mobile and government transparency."

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