Impact Investor Illumen Capital Closes $168M Vehicle


credit:

"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 round that was led by the Ford and WK Kellogg foundations along with more than 100 other investors.

The fund will invest in venture, growth, and PE funds across education, health and wellness, climate and sustainability, and financial inclusion, reports the Detroit Free Press.

Illumen Capital, which focuses on racial and gender equity in investing, conducted research last year that found asset allocators, or investors, tend to favor white-led, less-diverse teams and management teams led by black people over those led by white people.

"We know from our research that this increase in volatility and disruption leads to many retreating to their biases," Dodson says.

Illumen Capital also helps fund managers implement strategies to reduce racial and gender bias in hiring, investments, and company operations, in partnership with Stanford SPARQ, a behavioral science think tank at Stanford University.

Read the Entire Article


Selected Foundation News

A customized collection of news from foundations from around the Web.

UK Aims For Global Leadership in Sustainable Finance and Growth

The government emphasizes innovation, inclusivity, and sustainability as part of its dual strategy the Financial Services Growth and Competitiveness Strategy and the Invest 2035 Industrial...more

Annual Innovative Idea Competition Encourages Temple Community to Think Big

Fox School of Business' Innovative Idea Competition welcomes students, faculty, staff and alumni from any of Temple's 17 of the schools and colleges to compete.The competition allows for rising...more

Forty Degrees and Rising: A Lecture on the Climate Crisis

The German Design Graduates (GDG) Talk will explore how design and innovation can help address the challenges posed by extreme temperatures.This project is funded by 'Innovationsforderung Hessen' as...more

Credit Union Apex Wins $1.8M Grant to Run Climate Project in West Africa

We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic.By clicking "Accept All", you consent to our use of cookies.These cookies will only be...more

Green Climate Fund to Support Development of Conservation International Initiative to ...

The government of Colombia, Conservation International and the Green Climate Fund (GCF) announced support for the development of a project to transform water security in the Bogota region.The project...more

Wayne State University to Lead Usda Grant to Support Program Training Students in 'Smart Agriculture'

Wayne State University to lead USDA grant to support program training students in'smart agriculture' Program will use data to study future of agriculture and train students.Project, "Nonformal...more

How Carbon Measurement Can Benefit America

A global carbon counting system, where every molecule of CO2 created during the production process is counted and made publicly available, could incentivize companies to invest in cleaner production...more

Uml, Bu Partner With State For Clean Energy Workforce Initiative

Maura Healey to launch a new initiative aimed at advancing clean energy and bolstering the workforce in the geothermal energy sector.The Clean Energy and Environment Legacy Transition Initiative...more

Balancing Innovation and Sustainability in Cloud-Based Big Data

Data centers, the backbone of cloud services, are significant energy consumers.In 2023, the market was valued at approximately $25.20 billion and is projected to grow at a compound annual growth rate...more

Cop29 €“ Transforming Agri-Food Systems

COP29's Food, Water and Agriculture Day shined light on the transformative power of agrifood systems to drive emissions reductions.The Agri-Food Systems Summit brought together global leaders,...more






The country’s first green coworking space, Green Spaces, is a hub for green and socially conscious businesses in Denver to work and connect with each other.




Federal Government Grant and Assistance Programs



Edited by: Michael Saunders

© 2008-2024 Copyright Michael Saunders