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

How's Your Community Doing?
Check Out it's
Community Vital Signs

Navigating Debt Challenges: G20'S Pursuit of Sustainable Solutions

The next IMF spring meetings will be held in Washington, DC, in 2024, and a group of academics is calling on the world's financial institutions to do more to help developing countries cope with the...more

Brazil and the United States: Partners for a Sustainable Future

The US and Brazil have a lot in common: They both produce about 25% of the world's food, they both have vast territories, and they both want to be more sustainable and less reliant on fossil...more

Mba Students from Top Business Schools around the Globe Are Pledging to Combat Climate Change

Columbia Business School, Harvard Business School, MIT Sloan School of Management, Northwestern University Kellogg School of Management, Stanford Graduate School of Business, the University of...more

Exploring Three Frontiers in Marine Biomass and Blue Carbon Capture

More than half of the world's biological carbon is captured and stored by marine living organisms, which are threatened by acidification, temperature change, severe storms, and...more

Healing, Bridging, Thriving: A Reflection on the Climate Arts Caucus

The National Endowment for the Arts and the White House Domestic Policy Council are hosting a summit on arts and culture in our communities on Jan. 30, 2024, and they want to know what can be...more

To Tackle Climate Change, Governments Increasingly Turn to Green Subsidies

The World Bank is out with a new report on subsidies, and it finds that governments around the world are increasingly offering them in an effort to combat climate change. Specifically, the report...more

New Innovative Crops Could Significantly Reduce Agriculture'S Climate Change Impact and ...

Scientists are working on a breakthrough that could have "sweep implications for global food security and environmental sustainability," according to a release from the Novo Nordisk...more

Innovative Spoon 'Electrocutes' Your Tongue for a Saltier Taste

A beverage company in Japan has come up with a spoon that claims to enhance the taste of salt without increasing one's sodium intake. The high-tech spoon works by emitting a weak electric field...more

Nine Key Takeaways about the 'State of Co2 Removal' in 2024

A new report on the state of carbon dioxide removal (CDR) is out, and it's full of good news and bad news. The good news is that the world is on track to hit its goal of keeping the global...more

World Environment Day

Every year on June 5, the UN celebrates World Environment Day, and this year's theme is "Our Land." In a press release, the World Health Organization notes that South-East Asia has the highest...more