The billionaire tech billionaire is set to invest in the $29 billion Internet of things fund.
The billionaire’s plans include buying and selling stocks, the investment advisory firm KKR announced Monday.
The fund will also invest in “large-cap technology companies,” which could include Amazon, Facebook, Apple, and Microsoft.
Bill Gates is reportedly buying stakes in several tech companies including Amazon, and is eyeing investments in “startups.”
The Gates Foundation is also looking at acquiring shares in these companies.
Bill Gates said in a press release that his investments in the fund will “help us achieve our goal of investing $1 trillion in the emerging technologies of tomorrow.”
The Bill & Melinda Gates Foundation’s goal is to invest $1,000 billion in innovation and growth in emerging technologies, according to the press release.
The announcement comes after Gates revealed in January that he had decided to invest at least $1 billion in his own personal investment fund.
Gates told Business Insider that the investment was prompted by a “fundamental shift” in his life and the desire to “make the world a better place.”
“We are changing our investments, and we want to invest to make the world better for people and communities,” Gates said.
In December, Gates and his wife gave away a total of $3 billion in charity giving, which is roughly the equivalent of about 1% of the world’s population.
He is currently the richest man in the world.
With his investments, Gates plans to help the world “develop the tools and services necessary to tackle climate change and other environmental challenges.”
“I am also investing in the future of education, science, and the arts, which are the lifeblood of our economy,” Gates continued.
“By making our philanthropic investments more sustainable, we can make a big difference in the lives of the people we care about.”