Foundation Grants
Community Vital Signs
About Us
"The basics of financial analysis often get interrupted when race or gender is present," says Daryn Dodson, CEO of Illumen Capital.
That's why the Detroit-based fund-of-funds is closing its second fund, a $168 million investment in venture, growth, and PE funds focused on racial and gender equity.
The fund, led by the Ford and WK Kellogg foundations along with more than 100 other investors, passed its initial target by around $50 million and nearly doubled the fundraising of its $88 million predecessor, reports the Detroit Free Press.
Illumen Capital, which was founded in 2014, works with fund managers to implement strategies to reduce racial and gender bias in hiring, investments, and company operations.
Its first fund focused on education, health and wellness, climate and sustainability, and financial inclusion.
"Each of these areas represent massive markets that are undergoing increasing disruption and volatility," Dodson says.
"We know from our research that this increase in volatility and disruption leads to many retreating to their biases."
A joint study conducted by Illumen Capital and Stanford's behavioral science think tank found that asset allocators, who make investment decisions, tend to favor white-led, less-diverse teams and Black-led, diverse management teams when evaluating
Read the Entire Article
Selected Foundation News
A customized collection of news from foundations from around the Web.
The Tampa Bay Innovation Center is kicking off its spring accelerator program, and it's got eight startups on its list. Among them: AgWise, which focuses on the climate impact of agriculture's...more
An 11-acre plot of vacant land in Rome, NY, will soon be transformed into 250 affordable housing units and a community center for veterans and their families. Thanks to a $2.5 million grant from...more
The state has stepped in to help a new ballet company in Syracuse get off the ground. The New York State Council of the Arts has awarded Central New York Ballet a $259,000 grant to help it move...more
The Ro-Na Theater in Ironton, Ohio, was fully operational from 1949 to 1973, but fell into disrepair in the 21st century, WSAZ reports. Now, thanks to a $5.2 million grant from the state of Ohio,...more
The Des Moines Arts Festival is less than two months away, and this year's event will feature more than 100 artists from around the world. The final weekend of the festival will take place in...more
A "first-of-its-kind impact investing network" in the Philippines is putting its money where its mouth is, in the form of collateral-free loans to women-led social and environmental...more
"It is simply not good enough that, for many advisers, their understanding of AI is that information goes into a black box,'magic happens' and something comes out." So said the outgoing director...more
"The future is green, and it's ours to invest in." That's the takeaway from Elysabeth Alfano, CEO of VegTech Invest, who is offering an online course on "Impact Investing with Plant-based...more
"Without actively looking for it, I came across a problem to solve, a powerhouse co-founder and an idea worth pursuing, so I decided to go for it," Alba Forns tellsEquities News. Forns is the...more
It's no secret that Africa's livestock industry plays a big role in the region's economy. In fact, the demand for livestock products is expected to grow by 50% by 2030, notes Business...more
Social Entrepreneurship
Spotlight
Hong Kong FarmFest 2014: Promoting Social Entrepreneurship
It’s time once again for social enterprises to bring and brandish their products and services at the FarmFest 2014, to be held at the Fa Hui Park in Mong Kok this Lunar New Year shopping season.