In November 2015, the founder of TOMS Shoes, LLC (TOMS), Blake Mycoskie (Mycoskie), announced that he was starting a new fund called the ‘TOMS Social Entrepreneurship Fund’ which would provide finance to early-stage social startups. He claimed that the company had already begun investing in 11 startups which had a core social mission. He added, “We feel it’s our responsibility to make sure there are other great companies emerging that will create a positive impact and unlock new ways business can be a force for good. The aim is to continue to reinvest so we can help more and more social entrepreneurs grow and make a positive impact in the world.”

In 2006, Mycoskie – a serial entrepreneur – set up his fifth entrepreneurial venture called TOMS with the unique ‘one-for-one’ model, wherein he promised that for each pair of shoes sold, he would donate a pair to a needy child. Mycoskie had previously visited Argentina and was moved by the plight of the children there who had no shoes. After serious thought, he came to the conclusion that a shoe charity would not ensure continuity in shoe donations. He believed that it was a for-profit business that could provide the funds required to ensure a constant supply of shoes to the needy..

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