Over the past seven years, Bahiyah Yasmeen Robinson has built VC Include into one of the most influential platforms reshaping how capital flows to diverse and impact-driven fund managers.
Through her “blended finance flywheel,” Robinson says the Include ecosystem has catalyzed more than $2 billion in impact capital and supported the creation of 13,000 jobs.
“I always talk about the 100x impact,” Robinson told ImpactAlpha’s Sherrell Dorsey on the latest Plugged In episode. “From the philanthropic capital we’ve been able to deploy, we’ve launched first-time firms that have gone on to raise over a billion dollars collectively. That’s the kind of multiplier effect the industry needs right now.”
Robinson launched VC Include in 2018 to incubate and accelerate diverse emerging managers across venture and private equity. In 2021, she expanded the vision with a fund of funds, creating a full-cycle platform that supports fund managers from incubation to institutional investment readiness.
The Include’s three-pronged platform has notched impressive results:
- The VC Include Incubator and Accelerator has graduated 66 first-time fund manager firms (96 individual managers), who have gone on to collectively raise over $1 billion.
- Include’s fund of funds has invested in 15 firms with a combined $1 billion in assets under management.
- An advisory services arm has supported 40 GPs and launched a non-dilutive working capital facility for 10 climate-focused firms.
Since inception, Include has deployed $35 million directly and catalyzed more than $2 billion across its network, says Robinson. “We’ve proven that with strategic deployment of philanthropic and catalytic capital, you can build scalable, institutional-quality firms that shift markets.”
Include has worked with emerging fund managers including Kaya Ventures, High Street Equity partners, Good Scout Capital, Cross Impact Capital, and Ruthless for Good Fund.
Weathering headwinds, reimagining growth
The conversation unfolded against a backdrop of policy volatility and funding pullbacks in the US climate and energy sectors. Yet Robinson remains characteristically grounded. “We are going to dip and then come back up—because we have to,” she said. “This is an imperative moment. If we stay firm and centered, we can move into the eye of the storm and come out stronger.”
While federal funding delays have slowed some US projects, Robinson sees resilience and innovation in global markets. “Private capital hasn’t slowed down. We’re seeing family offices and large investors quietly moving under the radar to support social and environmental strategies,” she noted. “And globally—especially in Europe, Africa, and Asia—deployment is actually accelerating.”
Robinson’s international perspective is rooted in her own journey: she began her career investing in Sub-Saharan Africa and later brought those lessons stateside. “I saw these firms emerging globally, focused on climate, maternal health, education, and I wanted to build an onboarding system for impact,” she reflected. “Include is that system.”
Equipping the next generation of fund builders
For Robinson, the most meaningful progress comes from empowering new fund managers to build long-term franchises, not just single funds. “We’re really thinking about decade-long cycles,” she said. “It’s about building sustainable institutions, firms that will be here 30, 40 years from now.”
She emphasized practicality in fundraising: start smaller, focus on fundamentals, and build relational networks before entering the market.
“There’s pressure to launch a $100 million fund out of the gate,” Robinson said, “but some of the most successful firms today started with $10 million or $20 million. You don’t have to scale overnight—it depends on your strategy.”
Her advice resonates across market cycles. “Timing matters,” she said. “We launched before the pandemic, and that moment catalyzed many new managers. The key now is staying equipped and adaptable through volatility.”
Creativity and care as investment catalysts
As the conversation closed, Robinson offered a challenge to investors eager to move beyond rhetoric: get creative. “Create carve-outs. Pilot new mandates. Try strategic partnerships,” she urged. “Maybe we don’t call it ‘climate’—maybe it’s a ‘strategic pool of capital’—but ensure that climate impact is embedded in what you’re underwriting.”
Underlying her strategy is a philosophy of empathy and connection. “I always talk about bringing community and care into capital markets,” Robinson said. “Investment is a human endeavor. It’s not decoupled from human impact.”
Even amid uncertainty, Robinson’s conviction is clear: the work must continue. “We’re building bridges across borders, between managers and allocators, and between generations of capital stewards,” she said. “This isn’t just about markets, it’s about legacy.”
For those ready to join that movement, Robinson says, “Let’s get creative, and let’s get to work.”
Plugged In is a series of monthly conversations with Black innovators building an inclusive and sustainable economy with host Sherrell Dorsey.
