The Drexel Fund invests in new, financially sustainable schools serving low-income students in any state with publicly funded private school choice. Investments are concentrated in eight target states that provide the most advantageous environment for new, high-quality, financially sustainable, private schools—Arizona, Florida, Indiana, Louisiana, North Carolina, Ohio, Tennessee, and Wisconsin—and nine opportunity states that show promise for school growth depending on the school model—Alabama, Arkansas, Georgia, Iowa, New Hampshire, Oklahoma, South Carolina, Utah and West Virginia.