Third Wave Fund defines gender justice as a movement to end patriarchy, transphobia, homophobia, and misogyny. Since gender oppression is tied to capitalism, classism, racism, ageism, and ableism, gender justice can only truly be achieved when all forms of oppression cease to exist.

Third Wave Fund grantmaking and donor mobilizing advances the community power, well-being, and self-determination of young Black, Indigenous, People of Color (BIPOC) most directly impacted by and best positioned to end gender oppression. They specifically resource grassroots movements that are 1) multi-issue, 2) community-led (they define "community-led" movements as being led by those who are directly impacted by oppression) and 3) unapologetically queer, trans, intersex, and sex worker-led.