Before taking over the lead role of the California Infrastructure and Economic Development Bank (IBank), Scott Wu spent the last several years leading and advising teams focused on financing beneficial and innovative solutions to large-scale, public sector issues.
The long-time Northern California resident was a partner and head of investments for the Omidyar Network where he also led the firm’s activities to provide energy to off-grid communities around the world.
Wu has spent a lifetime of uniting his strong finance and innovation skills with a passion for global philanthropic endeavors. Now he plans to leverage those experiences as a banker, investor, entrepreneur and public servant to help amplify California’s strong economic growth through IBank’s powerful platform.
“IBank combines all the things I love and care about most: infrastructure, economic development, climate change and the environment, education, disaster relief, and supporting people, small businesses and our communities,” Wu said. “We finance things that matter to the public and improve our society. To be able to help guide these programs for one of the largest economies in the world is a dream come true.”
Wu holds a deep dedication for innovation – investing in, working with, and launching young companies and organizations to disrupt their respective sectors. He served as a White House Presidential Innovation Fellow and senior advisor to the innovation funds of USAID.
Being involved with USAID and as a leading impact investor combined Wu’s 30-year commitment to improving global poverty and education with his innovative problem-solving skills. Wu is a director and former chair of the U.S. Committee for Refugees and Immigrants, director of MFX Currency Risk Solutions, director of Callisto sexual assault reporting platform and former president of Aim High summer school network. He has worked on development projects in Tanzania, with a center combatting child prostitution in Bangkok, monitored refugee camps, co-founded a middle school for the underprivileged, and volunteered in AIDS orphanages.
Wu was a member of the founding team of a successful fintech platform (Upstart.com), and co-founded several venture capital and investment firms that together manage over $1B. He has a record of achieving superior returns, leading or co-leading over a dozen portfolio company IPOs and successful exits.
He is a graduate of Dartmouth College and Harvard Business School.