Impact Investor Illumen Capital Closes $168M Vehicle

"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 Grant News Headlines

A customized collection of grant news from foundations and the federal government from around the Web.

Leading Impact Investors and Philanthropists Convene for
Foundation: Silicon Valley Community Foundation, California Endowment

In 2024, Los Angeles will host the Mission Investors Exchange 2024 National Conference, an annual conference that brings together more than 750 philanthropy and impact investing leaders from across...more

Leading Impact Investors and Philanthropists Convene for Mission Investors Exchange 2024 ...
Foundation: California Community Foundation, California Endowment

Ava DuVernay financed her latest film with money from the Giving Pledgean initiative of the California Endowment, the largest US foundation to commit its entire $4 billion portfolio to social and...more

New Inclusive Creative Economy Strategy to Demonstrate That the U.S. Creative ...
Foundation: Marguerite Casey Foundation, Marguerite Casey Foundation, Rockefeller Philanthropy Advisors, Skoll Foundation, Target Foundation, Ford Foundation, Philadelphia Foundation, Rockefeller Foundation

"The US creative economy was most recently valued at over $1 trillion by the National Endowment for the Arts," per a press release, "even before considering film, fashion, video games, beauty, food,...more

Exxonmobil Is Suing Investors Who Want Faster Climate Action

ExxonMobil is in the midst of dozens of lawsuits from states and localities accusing the company of lying about its role in climate change and the dangers of burning fossil fuels. Now, the oil...more

Firstenergy Corp. Expenses Under Scrutiny

An auditor hired by the West Virginia Public Service Commission to look into two electric companies owned by FirstEnergy found evidence of wrongdoing, but it's not clear whether the companies...more

What Is a Program Related Investment?
Foundation: Gates Foundation

Bill and Melinda Gates are putting their money where their mouth is. The world's two biggest philanthropists have each donated $50 million to the Bill and Melinda Gates Foundation, CNN...more

Exploring the Potential of Satellite-Based Mission Investment and Financing
Foundation: Gates Foundation

There's a new way of helping the world's poorest people, and it doesn't involve sending in satellites. Instead, the Bill and Melinda Gates Foundation is putting its money where its mouth is,...more

U.S. Impact Investing Alliance Names John Palfrey, President of the John D. and ...
Foundation: MacArthur Foundation, Ford Foundation

"To meet the challenges of our time, foundations must deploy resources across the full spectrum of capital, including grants, catalytic capital, and endowment investments that align with mission and...more

U.S. Impact Investing Alliance Names John Palfrey, President of the John D ...
Foundation: MacArthur Foundation, Ford Foundation

"To meet the challenges of our time, foundations must deploy resources across the full spectrum of capital, including grants, catalytic capital, and endowment investments that align with mission and...more

U.S. Impact Investing Alliance Names John Palfrey, President of the John D. and ...
Foundation: MacArthur Foundation, Ford Foundation

"To meet the challenges of our time, foundations must deploy resources across the full spectrum of capital, including grants, catalytic capital, and endowment investments that align with mission and...more





PRI News from...


Kresge Foundation


Social Entrepreneurship
Spotlight



Why Not Lease A Jeans?


Dutch fashion label, Mud Jeans, has launched its Lease a Jeans brand. The jeans are crafted of organic and recycled cotton and are 100% responsibly produced.




Social Sector Jobs

  Social Services Jobs
  Education Jobs
  Foundation Related Jobs
  Fundraising & Development Jobs
  Social Services Employment


Federal Government Grant and Assistance Programs


Flood Control Projects | Skills Training and Health Workforce Development of Paraprofessionals Grant Program | Transformation Initiative Research Grants: Sustainable Community Research Grant Program | Violence Against Women Act Court Training and Improvement Grants | State Fiscal Stabilization Fund (SFSF) Race-to-the-Top Incentive Grants, Recovery Act | Child Care Access Means Parents in School | Crop Disaster Program | National Security Education Program David L. Boren Scholarships | | Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy

Edited by: Michael Saunders

© 2008-2024 Copyright Michael Saunders