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 seven target states that provide the most advantageous environment for new, high-quality, financially sustainable, private schools—Florida, Indiana, Louisiana, North Carolina, Ohio, Tennessee, and Wisconsin—and four opportunity states that show promise for school growth depending on the school model—Alabama, Arizona, Georgia, and Oklahoma. West Virginia’s Supreme Court recently upheld the state’s Hope Scholarship, an education savings account for which every student in the state is eligible. This development could lead to West Virginia becoming an opportunity state, once the court issues a more thorough ruling.