Rachel Robasciotti and Maya Philipson, founders of the San Francisco–based financial activism firm Adasina, have always intended to share ownership with the company’s employees.
The founders felt the firm’s internal structure should align with its mission to bridge gaps between financial markets and social justice.
“When a team as diverse as ours shares in ownership, it is not only a sound business decision. It is a concrete way to shift power and wealth towards communities historically excluded from both,” wrote Philipson.
More than half of Adasina’s 12 employees (excluding the firm’s “chief feline officer” Astrid) identify as people of color and/or LGBTQ+; most are women.
Philipson said the transition will be subsidized, without employees having to “buy in.” She expects Adasina to be 100% employee-owned by next year.
“At the industry level, we hope this transition acts as a model for our impact investing peers curious about employee ownership,” she said.
