Nonprofits launch $21M fund for local news as fake local sites promote Democrats
The gist
Social Finance and three foundations launched a $21 million fund to invest in local news outlets.
That same week, NPR found 10 fake local news sites promoting Democrats.
How it unfolded
- Oct 27, 2026Social Finance launched the Local News Impact Investment Fund with $21 million in initial commitments from Social Finance, Knight Foundation, MacArthur Foundation and Press Forward.
- Oct 27, 2026The fund said it would deploy $500,000 to $2 million per investment in non-profit and for-profit local news outlets, with Social Finance handling due diligence, and aims to reach $30 million–$35 million within two years.
- Oct 30, 2026NPR reported that 10 'local news' websites each promote one Democrat in competitive U.S. House races, part of a larger group of 37 sites identified by digital security firm VisionHeight.