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.

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

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...more

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...more

Startup Health Announces Type 1 Diabetes Program-Related Investment by the Helmsley ...
Foundation: Helmsley Charitable Trust

"There is no shortage of early-stage innovators with bold ideas that could lead to better management of T1D or to prevention," Sean Sullivan, a program officer at the Helmsley Charitable Trust, says...more

How To Align Assets With Mission: Small Steps That Nonprofits Can Take

If you own stock in CoreCivic, a company that runs America's largest privately run prisons, you may not be doing much for the environment or human rights. But if you own stock in CoreCivic, a...more





PRI News from...


Kresge Foundation


Social Entrepreneurship
Spotlight



Black Country Social Enterprises Bag SEWM Awards


Social enterprise triumvirate from the Black Country were recognized as the main winners at the Social Enterprise West Midlands (SEWM)-backed event.




Social Sector Jobs

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


Federal Government Grant and Assistance Programs


Surveys, Studies, Investigations and Special Purpose Grants within the Office of the Administrator | American Council of Young Political Leaders | Paul Coverdell Forensic Sciences Improvement Grant Program | | Chafee Education and Training Vouchers Program (ETV) | ARRA Health Information Technology Beacon Communities | Educational Exchange_University Lecturers (Professors) and Research Scholars | President"s Council on Fitness, Sports, and Nutrition | | Site Style by YAML | Grants.gov | Grants | Grants News | Sitemap | Privacy Policy

Edited by: Michael Saunders

© 2008-2024 Copyright Michael Saunders