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.
Latest reviews of Creative Cauldron's a€˜Passport Music Festival' - DC Theater Arts.The Kennedys, Saturday, January 11 at 7:30pm, and The Renegades Mardi Gras Passport Finale Party,...more
Climate change will cost between 1.9% and 3.1% of global GDP, says Richard Tol.Tol: The EU switched focus and with a near-myopic climate obsession opted for a "sustainable" economy over a sound...more
CSIRO strategies to help threatened species adapt to climate change - ABC News.From irrigating sea turtles' nests to fireproof nesting boxes for gliders, the CSIRO is aiming to inspire hope by...more
A green entrepreneur combines the word entrepreneurship with the environment.Green entrepreneurship involves developing new products, bringing them to market, and ensuring the environmental...more
Your Voice Matters: Shape the Future of Lake Eacham's Natural Sanctuary.The visitor amenities are on the brink of transformation and we seek your guidance.The reforms will invite everyone to enjoy...more
Art can act as a multidimensional catalyst for climate justice.Art can provide crucial healing spaces for those grappling with climate grief, and strengthen community resilience.Art, however, can...more
ZERO13, a GMEX Group subsidiary, engaged with a wide range of carbon market stakeholders on a number of key market opportunities and challenges.The survey was conducted following the November 2024...more
The health care and pharmaceutical sectors depend heavily on single-use plastics for product packaging and distribution.The Circularity in Primary Pharmaceutical Packaging Accelerator is a nonprofit...more
Scotland's Health Secretary Neil Gray praised Blackwood Homes and Care's Peoplehood Project.The 12.5m project is aimed at improving quality of life while reducing dependence on social care...more
The partnership revolves around a clinically-tested The formulation, rooted in rigorous scientific research, is positioned to provide an affordable and effective treatment for early-stage arthritis...more
New News from...
Northern Piedmont Community Foundation
Piedmont Community Foundation
Longwood Gardens
MacArthur Foundation
Charles Stewart Mott Foundation
PSEG Foundation
Community Foundation of Western Massachusetts
California Community Foundation
Mattel Children's Foundation
McPherson County Community Foundation
Social Entrepreneurship
Spotlight
Bicycles for the People in Rural Mozambique
Mozambikes, a for-profit social venture, was formed during a road trip across Mozambique. The founders of Mozambikes aim to improve the quality of life among rural Mozambicans by providing low-cost, efficient personal transportation.