|
|
Bailey McCann, Opalesque New York: Illumen Capital, an impact fund of funds has announced the raise of its $32.75 million Catalyst Fund, a vehicle designed to support first-time fund managers and entrepreneurs, particularly those from underrepresented backgrounds.
The Illumen Catalyst Fund will invest in diverse-led funds and early-stage companies, marking the first time Illumen Capital has integrated direct investments into its broader strategy.
"Despite years of acknowledging racial inequities, the institutional investing landscape has seen little progress and, in some respects, has deteriorated since our nation's racial reckoning in the summer of 2020," said Daryn Dodson, Managing Partner of Illumen Capital. "With the closing of the Catalyst Fund, Illumen Capital aims to directly confront the barriers these fund managers face. Our thesis and strategy remain strong, and the continued investment from our partners highlights the immense value that often goes unrecognized in underestimated managers and entrepreneurs."
The Catalyst Fund included capital from Health Forward Foundation, the California Wellness Foundation and the Winthrop Rockefeller Foundation, among others. For many investors, the Catalyst Fund is not their first investment in Illumen Capital, demonstrating their continued confidence in the firm's mission to leverage their influence in reducing bias in venture capital and private equity decision-making.
Prior to the Catalyst Fund, Ill...................... To view our full article Click here
|
|
RSS
