Moritz, Heyman offer $150 million for San Francisco revitalization ideas

San Francisco's persistent housing affordability crisis and post-pandemic economic decline are now the focus of a significant philanthropic effort. Billionaire investor Michael Moritz and his wife, artist Harriet Heyman, are launching "Boundless San Francisco," a global competition backed by their private family foundation, Crankstart, with up to $150 million available for transformative ideas.

The initiative aims to attract innovative solutions from anywhere in the world, emphasizing that "the best ideas rarely come from where you expect them," according to Moritz. Any organization can submit a proposal, provided the project directly benefits San Francisco residents. Up to three winning organizations will each receive between $10 million and $50 million to implement their plans.

Organizers are partnering with Lever for Change, a non-profit experienced in managing large-scale funding competitions, including initiatives for Chicago and Texas. This collaboration will oversee a structured, multi-stage evaluation process. The competition reflects a venture capital-like approach, a strategy familiar to Moritz, a former Sequoia Capital partner known for early investments in tech giants like Google and YouTube.

The application process begins with initial registration by September 11, followed by full proposals due October 9. A development grant phase will provide funding and support to shortlisted finalists before an expert panel makes the final selection in autumn 2027, based on criteria such as transformative ambition, viability, evidence of results, and durability. This initiative highlights San Francisco's growing reliance on private philanthropy to address critical public service gaps.

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The best ideas rarely come from where you expect them.