The Trust was created in January 2008, with the declared aim of funding innovative Internet projects that make a positive difference to the lives of disadvantaged and vulnerable people, primarily in terms of education, safety and inclusion.
In September 2008, Nominet donated £5 million as initial funding.
The Trust began accepting applications for funding in early 2009.
It aims to achieve a balanced portfolio of funded projects that complement each other in terms of aims, market, level of risk, level of innovation, size and stage of development.
The Trust has a board of six trustees who are responsible for its oversight and decide how to distribute the funds.