Home
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 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.
LIVIC Civil recently contributed $1,000 gold level mission investment in Focus Central Pennsylvania for 2025.These resources are to advance the mission to attract investment that cultivates economic...more
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
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
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 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
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
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
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
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
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
When it Comes to Social Enterprises, Failure is the Best Platform for Innovation
In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.
