Robert F. Smith, Chairman of Student Freedom Initiative

The creation of Student Freedom Initiative (SFI) was inspired by the actions of businessman Robert F. Smith, with the end goal of liberating the human spirit in the Black community and other communities that often lack access to opportunities. This is done by removing one of the roadblocks to personal and family wealth creation: student loans.

“By addressing the financial stress of college and providing students with resources and community, we can finally broaden the talent pipeline and create a more diverse and thriving economy,” said Chairman of SFI, Smith.

Over the years, Smith has called the racial wealth gap a human rights crisis that has for too long suppressed the genius and potential of Black Americans. SFI’s programs aim to correct historic and systemic inequities while building a scalable platform for investment in the Black leadership of the future.
Smith, who was named one of Forbes’ 100 Greatest Living Business Minds in 2017, made international headlines following his commencement address to the Morehouse College class of 2019. Smith, the Morehouse College honoree and commencement speaker, announced to approximately 400 new graduates that he had paid their student loans.

The payment of over $34 million in student debt was complex, and it inspired Smith to examine the system itself. Together with leadership from Historically Black Colleges and Universities (HBCUs) and financial experts, the idea of SFI took shape. It was launched to include an income- contingent alternative to traditional private loans, student support services, mentorships and internships.

Unlike many business leaders in the financial industry, Smith is also an engineer. His bachelor’s degree in chemical engineering from Cornell University and successful career in the industry provided an edge when he eventually launched his own investment firm. The STEM skills and “elegant solutions” Smith learned were highly translatable to his next career path.

Smith took a calculated mid-career risk, leaving the field of engineering. He earned his MBA at Columbia Business School in 1994 and joined Goldman Sachs. Smith thrived in his position, which brought him to San Francisco and Silicon Valley, working to secure deals with the likes of Apple and IBM.

Smith founded Vista Equity Partners (Vista) in 2000. Due to his knowledge of computer programming gained as an engineer, Smith was one of the first investors to see the potential for growth in technology industry software development as opposed to hardware. Vista has become a leading global investment firm, exclusively investing in enterprise software, data and technology-enabled businesses. Because of its continued success, Vista was named 2023’s Global Technology Private Equity Firm of the Year by Private Equity International.

Smith was brought up in Denver, CO, by parents who were very invested in his future. Both of Smith’s parents worked in education and earned doctoral degrees in that field. His mother also made it her mission to make monthly payments to the United Negro College Fund (UNCF) to ensure the next generation of Black students could achieve their dream of a college education.

This family history reinforced Smith’s need to give back to his community. Smith’s dedication to philanthropy is centered on initiatives that promote equality and equity for the Black community (and other communities that often lack access to opportunities), environmental preservation and social justice.

In his mission to liberate the human spirit, Smith has focused on several education initiatives and organizations. Smith has supported the following organizations:

• DonorsChoose
• internXL
• Ron Brown Scholar Program
• Columbia University
• Cornell University
• The National Museum of African American History and Culture
• Sphinx Organization

Smith also co-leads Southern Communities Initiative (SCI). SCI is a catalytic program for advancing racial equity across six Southern communities that represent more than 50% of the Black population in the U.S.

Because of his dedication to these organizations and many others throughout his career, Smith has earned several honors. A selection of Smith’s recognitions include:

• Legal Defense Fund’s National Equal Justice Award in 2023
• Founders Award from Foster Love in 2023
• theGrio’s Philanthropy Icon Award in 2022
• Carnegie Medal of Philanthropy in 2019
• UNCF President’s Award in 2019
• Texas Business Hall of Fame 2019 Inductee
• Harvard’s W.E.B. Du Bois Award in 2019

For Smith’s unique contributions to business and philanthropy, he was also included in TIME100’s Most Influential People of 2020. In addition, Smith is a member of the Cornell Engineering College Council and serves on the Board of Overseers of Columbia Business School. And, Smith has had the honor of serving as Carnegie Hall’s Chairman since 2016.

Learn more about Smith and what he is doing to support students by following him on LinkedIn, Facebook, Instagram and X and subscribing to his YouTube channel.