Proxy battles for universal owners & new models for employee ownership
Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week: With proxy season here, how shareholders can apply …
The period after the American Civil War was a time of great ferment, division – and systemic change. Today’s confluence of pandemic, dislocation and popular mobilization presents new opportunities for systemic change. Conversations on The Reconstruction podcasts, and coverage on ImpactAlpha, introduce people, projects and U.S. policies that center Blackness in the service of economic liberation for all.
Podcasts
Responding to legal attacks on affirmative action and racial wealth-building strategies
Paris Prince of the Intentional Endowments Network joins host Monique Aiken to talk about how impact investors are responding to legal attacks on …
Demetric Duckett, Living Cities: New decision-makers for the new majority
ImpactAlpha, Jan. 20 – Building wealth for women and people of color is about numbers as well as equity. By mid-century, there will be …
‘Community rounds’ for new impact fund managers
ImpactAlpha, Aug. 27 – On this week’s podcast, Monique Aiken has the headlines and ImpactAlpha’s Dennis Price chats with Havell Rodrigues of New Majority …
Fairview Capital’s emerging wisdom about emerging and diverse fund managers
ImpactAlpha, Apr. 26 – Diverse-owned and -managed funds would be more likely to build diverse teams and more likely to invest in diverse founders. …
A global bio fund is centering women founders and customers to drive equity and returns
ImpactAlpha, Dec. 1 – Growing up in an unequal society in India prepared Ipshita Mandal-Johnson to overcome limitations. With a new life sciences fund, …
Kelly Burton, Black Innovation Alliance
The Reconstruction: Building an ecosystem for Black and Brown entrepreneurs
ImpactAlpha, Nov. 16, 2021 – As co-convener of the Black Innovation Alliance, Kelly Burton is working to bring together small business owners and …
Photo credit: One Inch Punch
The Reconstruction: Moving racial justice to the center of climate philanthropy
ImpactAlpha Nov. 1 – Climate justice leaders are mobilizing their own Conferences of the Parties around the world as heads of government meet …
Vanessa Roanhorse
The Reconstruction: The Indigenous wisdom of lending based on character, not collateral
ImpactAlpha October 18 – Current systems of credit are not working. Indigenous wisdom points to more promising approaches: deep local engagement and character-based …
Sherrell Dorsey of The Plug | Photo credit: Mecca Gamble Photography
Impact Briefing: Covering Black tech ecosystems, with The Plug’s Sherrell Dorsey
ImpactAlpha, Oct. 8 – On this week’s podcast, The Plug’s Sherrell Dorsey joins host Monique Aiken to talk Black tech ecosystems, the origins of …
Nwamaka Agbo, Kataly Foundation | Photo by Bethanie Hines
Restorative economics: Creating community benefits by shifting who owns and controls assets
ImpactAlpha, Oct. 4 – Black, Indigenous and other communities of color are often told that economic development projects will bring jobs and services to …
Full Cycle's Stephan Nicoleau
The Reconstruction: Redressing the past with climate-smart infrastructure for a just transition
ImpactAlpha, Sept 20 – Infrastructure is highways and bridges. And hospitals and airports; broadband, clean water, plumbing and electricity. And it all needs …
Hurricane Ida | Photo credit: NBC News
The Reconstruction: Recovery from Hurricane Ida starts with equitable treatment for the ‘resilience force’
ImpactAlpha Aug. 30 – With hurricane winds still blowing and rain falling, essential workers already are stepping up to bring back services and …
DeAnna Hoskins, Just Leadership
The Reconstruction: Leadership for criminal justice reform from those most affected by mass incarceration
ImpactAlpha August 23 – The overhauling of U.S. systems of mass incarceration to advance justice in criminal justice requires the leadership of people …
Baltimore, Maryland | Jon Bilous
The Reconstruction: An equitable path forward to redress racial injustice in real estate
ImpactAlpha August 9 – Black Americans make up nearly half of the people living in affordable homes financed by the federal government. But …
The Reconstruction: How philanthropy unbound can put humanity back into investing in all its forms
ImpactAlpha July 26 – Renée Joslyn wants to restore philanthropy to the roots of the word: love of humanity. Joslyn, the founder of …
John Duong, Kind Capital
The Reconstruction: Practicing kindness to disrupt venture capital and deepen diversity
ImpactAlpha July 12 – Can venture capital be kind? This simple question is at the heart of the impact investing firm Kind Capital …
Gangstas to Growers in Atlanta | Photo credit: Gangstas to Growers/Facebook
The Reconstruction: Building community power and agency to redress racial wealth gaps in Atlanta
ImpactAlpha, June 28 – Atlanta has been the de facto headquarters of the civil rights movement since the 1950s and ‘60s. A 1971 …
Tommy Johnson and Fennie Wang of Made with Black Culture
The Reconstruction: Certifying products made with Black culture to build an ethical marketplace – on blockchain
ImpactAlpha June 14 – Made with Black Culture is developing a certification process to authenticate products of Black culture. Through a blockchain-based cryptographic …
Anne Price of the Insight Center for Community Economic Development | Photo credit: Insight Center
The Reconstruction: Anne Price on centering Blackness in the economic liberation of all Americans
ImpactAlpha, June 1 – The recovery from both the COVID pandemic and the long legacy of racism in the U.S. presents an opportunity for …
Screenshot of rare color footage of Tulsa's thriving Greenwood District | Image credit: The Smithsonian
The Reconstruction: How the legacy of Black Wall Street and the Tulsa Race Massacre is shaping a more just future
ImpactAlpha, May 26 – Nearly 100 years ago, on May 31, 1921, Oklahoma’s Tulsa Tribune released a falsified news story describing an accusation by …
Patience Marime-Ball of Women of the World Endowment
The Reconstruction: Patience Marime-Ball on driving change by changing who controls capital
ImpactAlpha, May 17 — Women are not waiting to be saved. Women are doing the saving. That’s the mantra of Patience Marime-Ball, who …
Kelli Saulny of Camelback Ventures
The Reconstruction: Accelerating Black entrepreneurship to build wealth across generations
ImpactAlpha, May 3, 2021 – Inheritance is not only about the wealth we pass down from grandparents to parents to children. It is …
Rey Ramsey of The Nathan Cummings Foundation | Photo credit: The Org
The Reconstruction: Rey Ramsey on deploying 100% of foundation assets toward positive impact and racial equity
ImpactAlpha, April 19 — The case for breaking down philanthropy’s historical divide between the investment side of the house and a foundation’s mission …
Tiffany Manuel of TheCaseMade | Photo: Tiffany Manuel
The Reconstruction: Seeing the world of our children’s children to help make the case for justice
ImpactAlpha, April 12 – Tiffany Manuel’s handbooks for social change warn about messaging “backfires.” These days, she’s wielding such tools to overcome backlash. …
Daryn Dodson, Illumen Capital
The Reconstruction: Overcoming racial bias to optimize asset management for returns – and impact
ImpactAlpha, Mar. 29 – Money managers at the world’s sovereign wealth and pension funds and university and foundation endowments seek to optimize portfolios to …
Rodney Foxworth of Common Future
The Reconstruction: Rodney Foxworth on reparative investing for shared power in a common future
Rodney Foxworth, CEO of Oakland, Calif.-based Common Future, gets personal in conversation with host Monique Aiken in the latest episode in The Reconstruction, …
Frontline Solutions’ Marion Johnson and Jessica Barron
The Reconstruction: The mobilization of Black women and other voters of color is uplifting us all
ImpactAlpha, Mar. 1 – There was an important history lesson embedded in the confirmation hearings of Attorney General-designate Merrick Garland, who is expected to …
(left to right) Erika Seth Davies, Tracy Gray, Rachel Robasciotti, Brent Kessel
The Reconstruction: How unlikely partners came together to fight racial bias in asset allocation
ImpactAlpha, Feb. 10 – The broad problem of systemic bias in the asset management industry became very specific when fund manager Rachel Robasciotti pitched …
The Reconstruction: Carmen Rojas on practicing truth in the service of freedom
ImpactAlpha, Feb. 3 – As founder of The Workers Lab, Dr. Carmen Rojas led a nonprofit incubator and investor with the tagline “building power …
Artwork from “The Moment Was Now,” a play by Gene Bruskin
The Reconstruction: That moment when everything was possible… is now
ImpactAlpha, Feb. 2 – A contested election. A political deal. An historic sellout. Screech… halt… stop. The presidential election just finished had a decidedly …
1863 Ventures' Melissa Bradley | Photo: Washington Business Journal
The Reconstruction: Learning from history to create opportunities for equitable wealth-building now
ImpactAlpha, Feb. 1 – Talk about a signal. The Emancipation Proclamation in 1863 kicked off the period of systemic reform, multi-racial progress and shared …
Welcome to The Reconstruction
ImpactAlpha, Feb 1 – The Reconstruction series will engage investors, entrepreneurs, activists and academics in the U.S. and around the world, as Aiken puts …
Features
Agents of Impact are assembling a ‘Playbook for Shared Prosperity’
Solutions to “kitchen table” challenges like high housing costs, lending for small businesses and upgrading community infrastructure are not that different for “blue” …
From left, Wilson Lester, Napoleon Wallace and Talib Graves-Manns of Partners in Equity. Photo credit: Partners in Equity
For America’s 250th birthday, let’s build a playbook for shared prosperity
Next year, America marks two significant anniversaries: 250 years since its founding in 1776, and 150 years since the end of Reconstruction in …
Credit: Mission Driven Finance
Re:Construction: Five promising pages in the playbook for shared prosperity
Our road trip through North Carolina this month traveled both back in history and forward on the road to renewal. We flew into …
Re:Construction – A playbook of what and who is working to build prosperity for all
It’s a small win. But the apparent survival of a Treasury Department fund that was subject to a termination order from President Trump …
Brittany Bennett Weston, David Bank, Zuleyma Bebell, Yuri Vaysgant, Martin Eakes, and Napoleon Wallace.
From North Carolina, a playbook for the Reconstruction of Black wealth
Two years. That’s what Napoleon Wallace wanted in order to leave his position as North Carolina’s deputy secretary of commerce and build a …
Neighborhood Economics conference in Jackson, Miss. | Photo credit: Nonprofit Finance Fund / Twitter
Can Black churches spark a revival in Jackson, Mississippi?
ImpactAlpha, May 2 – Jackson, Miss., a predominantly Black city of 150,000 people, has faced water, sewer and hospital crises and most recently …
Overheard at MIE: Impact investing’s favorite son
Editor’s note: ImpactAlpha is the media partner for the 2022 Mission Investors Exchange conference. Catch up on our series, including: “Real estate developers …
Collective ownership, renter payouts and neighborhood trusts expand access to housing wealth
ImpactAlpha, Nov. 28 – Late in the afternoon on a Friday in September, a dozen or so Latina small-business owners gathered at the headquarters …
Photo by Tamarcus Brown on Unsplash
Mispriced risks, investor demand and community power center racial equity in municipal bonds
ImpactAlpha, Nov. 18 – Cities around the U.S. are raising low-cost capital in the municipal bond markets by highlighting intentional efforts to address long-standing …
The ‘Black Tax’ plagues small municipalities. Can bond banks help?
ImpactAlpha, Nov. 9 – An old idea is finding new life in the municipal bond market, where a stubborn complacency with conventional ways of …
Policy Corner: Diversity in asset management
ImpactAlpha, Oct. 17 – The U.S. Securities and Exchange Commission last week released guidance that investment advisers can consider diversity, equity and inclusion, DEI …
Klean Energy Kulture cofounders Michael Hawthorne and Corey Dennard, aka Mr. Hanky. | Photo credit: Klean Energy Kulture/FYE Images
Klean Energy Kulture aims to bring swagger to climate to activate Black communities
ImpactAlpha, Oct. 11 – Climate action needs some swagger. A hip-hop super producer and a “community organizing nerd” are teaming up to give the …
How foundations used pandemic-era bonds to catalyze capital for social infrastructure
ImpactAlpha, Aug. 17 – Faced with 2020’s extraordinary set of crises, from a global pandemic to a racial-justice reckoning, most philanthropies went into self-preservation …
The Mountain Valley Pipeline in 2018. Credit: Ned Oliver/Virginia Mercury/
From permitting to pipelines, mobilization for climate justice targets ‘poison pills’ in the Inflation Reduction Act
ImpactAlpha, Aug. 15 – As part of his deal to support the sweeping climate legislation just passed in the U.S. Congress, Sen. Joe Manchin …
Photo credit: Common Future
‘Policy entrepreneurs’ are scaling up local innovation to drive inclusive growth
ImpactAlpha, Aug. 4 – Bree Jones had been working as an equitable developer in West Baltimore for just a couple of years when a …
A $25 million plan to upskill and diversify the climate workforce
ImpactAlpha, Jul. 18 – The climate ground war will be won block by block, building by building (for context, see “Call No. 32: …
Baltimore, Maryland
Ensuring the Community Reinvestment Act addresses the racial wealth gap, as intended
More than 40 years after the Community Reinvestment Act was put in place to undo racist policies in banking, the racial wealth gap …
Protesters at the Global Day for Climate Justice | Photo credit: Jessica Girvan
Mitigation x adaptation x equity = climate resilience
ImpactAlpha, April 18 – Resilience is the solution to another disruption. Russia’s invasion of Ukraine is raising the value of local food security, distributed clean …
JOSE LUIS PELAEZ INC/GETTY IMAGES
Black Vision Fund creates a pipeline of loan capital for Black-owned small businesses
ImpactAlpha, March 17 — Misperceptions of risk among many lenders make Black-owned small businesses twice as likely to get rejected for bank loans …
Athens, Georgia
Social bonds direct proceeds to racial equity as the “S” gains prominence in ESG
When it comes to environmental, social, and governance (ESG) practices, the “S” has long been viewed as the more complicated piece of the …
Investors find untapped opportunities at the intersection of gender and justice
ImpactAlpha, Feb. 23 – Some of the funds are run by women of color seizing overlooked market opportunities with lived experience and cultural insight. …
Electrospit product assembly | Photo credit: Electrospit
‘Impact notes’ help entrepreneurs recoup equity by creating good jobs and community wealth
ImpactAlpha, Feb. 15 – You may have heard of SAFE notes, “simple agreements for future equity” that reward startup investors with discounts on future …
On anniversary of Capitol attack, stakeholders hold corporations accountable for democracy
ImpactAlpha, Jan. 6 – Add political stability to the list of systemic risks that keep investors up at night. ‘Political risk’ has historically …
The Plug's Sherrell Dorsey | Image credit: Mecca Gamble Photography
The Plug’s Sherrell Dorsey centers communities of color in the future of work
ImpactAlpha, Jan. 5 – Growing up in Seattle, journalist Sherrell Dorsey was surrounded by engineers and technologies of all colors and creeds. In professional …
The Reconstruction in 2022: Seizing the moment to build multiracial prosperity and democracy
‘Tis the season for our lookaheads to 2022 and, thanks to ImpactAlpha subscribers, we are able to make the roundups freely available. So …
A video grab from footage broadcast by the UK Parliament's Parliamentary Recording Unit (PRU) shows former Yorkshire cricketer Azeem Rafiq testifying in front of a Digital, Culture, Media and Sport (DCMS) Committee in London | Photo credit: AFP PHOTO / PRU
Not Cricket: Diversity in asset management must be more than woke signaling
Editor’s note: ImpactAlpha contributing editor Imogen Rose-Smith, a longtime senior writer for Institutional Investor, contributes a bi-weekly column on the policies, practices and strategies of …
Freedmen Voting, 1867 (cropped from original). Image credit: Poster Print by Granger Collection
The Port Royal Experiment and the moment America almost did the right thing
ImpactAlpha, Dec. 13 – We were on our way to see family in South Carolina this summer, so we flew into Charlotte a few …
Photo by Sarah Ardin on Unsplash
Investing in The Reconstruction to bridge the racial wealth gap and rebuild America
ImpactAlpha, Dec. 9 – These times “require moral policies aimed at fully addressing the interlocking injustices of systemic racism, poverty, the denial of health …
Rethink, Redress, Liberate: Reflections on two dozen conversations about being a good ancestor
ImpactAlpha, Dec. 7 – Injustice is a feature, not a bug, of our current operating system. It has haunted us for centuries. In the …
Photo of Gene Bruskin's play, "The Moment Was Now.”
The Reconstruction this time: Retelling the history of the past to change the story of the future
That the past is never dead – it’s not even past, as Faulkner observed – was hard to dispute last month in the …
Photo credit: Southeastern African American Farmers’ Organic Network
Embracing regenerative practices to restore climate and community
ImpactAlpha, Oct. 28 – Take a deep breath. We’re 60 years into an 80-year paradigm shift away from economic extraction and towards the regeneration …
Joe Scantlebury, CEO of Living Cities
Living Cities’ Joe Scantlebury sees cities as the template for an inclusive America
ImpactAlpha, Oct. 21 – U.S. President Joe Biden wants to ‘build back better.’ Joe Scantlebury is out to make sure the rebuild includes all …
Screenshot from Blue Bayou | Image courtesy of Entertainment One Ltd.
New narratives for inclusion and investment at SOCAP21
ImpactAlpha, Oct. 19 – The arrival of Gen Z is upending culture and commerce. “They have very strong values around inclusivity,” said Marcy Ventures’ …
Black tech, green solutions for the planet and the people
ImpactAlpha, Oct. 15 – Invest in climate action for the planet – and the people. “Climate change is a public health issue, it’s a …
Researchers ready a dozen-plus deep dives into the complexities of catalytic capital
ImpactAlpha, Oct. 13 – Aceli Africa provides a first-loss cushion of up to 8% to lenders as a way to spur them to back …
Photo credit: Elemental Excelerator
Elemental Excelerator’s climate-tech unicorns develop locally, deploy solutions globally
ImpactAlpha, Sept. 30 – Dawn Lippert wanted to help flip Hawaii green and wean it from dependence on fossil fuels. But the cleantech solutions …
How climate-tech investments can create health and wealth in Black and Brown communities
ImpactAlpha, Sept. 29 – Investors able to spot scalable and community-based solutions will have an advantage as climate justice takes center stage in …
Photo by Tim Hüfner on Unsplash
‘Criminal justice footprints’ present risks and opportunities for investors
ImpactAlpha, Sept. 15 – With its first set of corporate ratings, FreeCap Financial has identified 10 indicators investors can use to screen companies for …
Photo credit: Chip Somodevilla/Getty Images.
Can investors help Haiti build back better this time?
ImpactAlpha, August 26 — Haiti’s politicians are promising a different response. Global leaders are looking for different approaches. And millions of Haitians are …
Wynwood Art District, Miami | Photo by Brian Lundquist on Unsplash
Artists are startups and creators CEOs as technology decentralizes the creative economy
ImpactAlpha, Aug. 24 – Musicians, actors, artists and other “creators” are getting creative about reaping the economic gains of their influence and turning their …
CHINO, CA - Photo by Kevork Djansezian/Getty Images
Decarceration-lens investing gains momentum in public and private markets
ImpactAlpha, Aug. 23 – Criminal justice is a growing part of racial-justice investing. To equip investors in public markets, Adasina Social Capital has built …
Asahi Pompey, Goldman Sachs
Q&A with Asahi Pompey: How the Goldman Sachs executive is helping the investment bank meet calls for racial and gender equity
ImpactAlpha, July 28 – When confronted with the reality that her 11-year son, a young Black man in America, had seen George Floyd’s …
The era of diversity disclosure in asset management has begun. Will actual diversity follow?
ImpactAlpha, June 13 – “The asset management industry has a lot of work to do to increase racial and gender diversity,” says Gary Gensler, …
Photo by K. Mitch Hodge on Unsplash
Call No. 29: Capitalism reimagined for fair gainsharing and equitable prosperity
ImpactAlpha, July 9 – Elevating the power (and wages) of low-income workers is not typically at the top of investors’ agenda. But a fairer …
Photo credit: PolicyLink
Turning pledges into policies to invest in Black Americans and multi-racial prosperity
ImpactAlpha, June 24 – Investors and executives can lead in many ways as they seek to fulfill their often heartfelt pledges to do …
Photo by Wayne Lee-Sing on Unsplash
Closing racial wealth gaps to deliver economic freedom for all
ImpactAlpha, June 17 – The promise of freedom was kept from enslaved people in Galveston, Texas for two and half years after the Emancipation …
With billions in fresh capital, community lenders step up to finance a more inclusive economy
ImpactAlpha, June 15 – The COVID-19 disruption made stark how badly traditional banks and lenders have underserved small businesses and real estate in Black, …
Seven ways finance has changed in the year since George Floyd’s murder
ImpactAlpha, May 25 – The raw injustice and the social protests that followed the murder of George Floyd pushed investors, corporate executives and policymakers …
The Collective's Sandra Dungee Glenn, Steven Sanders and Tayyib Smith
How a collective of Black developers is raising equity for inclusive real estate in Philadelphia
ImpactAlpha, Apr. 27 – Decades of failed policies and extractive investments have left Black neighborhoods in Philadelphia with undervalued housing, underfunded services and a …
Reviving a Black cultural corridor in West Oakland – as a community-led cooperative
In another era, Esther’s Orbit Room helped make West Oakland the “Harlem of the West,” hosting the likes of B.B. King, James Brown …
Past VC Include event | Photo: Oluwaseye Olusa
How women and VCs of color are finding impact alpha with first-time funds
ImpactAlpha, Mar. 30 – Shayna Harris and Noramay Cadena of Chicago and L.A.-based Supply Change Capital are backing women and entrepreneurs of color who …
American Rescue Plan brings policy support – and $1.9 trillion – to the bottom-up reconstruction
ImpactAlpha, Mar. 11 – The American Rescue Plan’s narrative of bottom-up prosperity for the post-Covid recovery resonates with a core thesis of impact finance: …
Impact investors turn to revenue-based financing to bridge capital gaps for founders of color
ImpactAlpha, Mar. 9 – As Kim Folsom likes to say, Founders First is majoring in the minors. Rather than produce a few tech unicorns …
Kensington, Philadelphia | Photo: Lexey Swall/GRAIN for The Pew Charitable Trusts
Neighborhood trusts are taking on speculators and building community wealth
ImpactAlpha, Feb. 23 – Real estate speculators have new competition on the block: neighborhood trusts organized by residents determined to have a say – and …
(left to right) Nneka Uzoh, Taj Ahmad-Eldridge, Amy Duffuor, Christian Okoye, Jamila Jarmon, Devin Hampton, Danielle Harris | Photos courtesy of Greentech Noir
Solving for climate justice is giving these Black investors an edge in the green economy
ImpactAlpha, Feb 1 – The design mandate for the green economy: Develop better and cleaner solutions that create jobs, improve health and drive demonstrably …
Scenes from the Party to the Polls in Brunswick, GA | Michael Scott Milner
How Georgia’s civic mobilization is rallying local efforts to close the racial wealth gap
ImpactAlpha, Jan. 5 – The impact of the massive voter education effort in Georgia may last well beyond today’s runoff election for two seats …
Photo credit: Good Work Network
Grassroots groups are mobilizing communities to take racial justice from protest to progress
With $30 million in grants to 60 local and national racial justice organizations, Kresge Foundation is seeking to harness the power of this …
LISC looks to “10X” investment in closing racial wealth gaps
ImpactAlpha Nov. 19 – The Local Initiatives Support Corp. wants to scale up the response to addressing persistent disparities in wealth, health and …
When founders of color prosper, so will entrepreneurship in the post-COVID economy
ImpactAlpha, Oct. 20 – Investors and advocates are increasing their focus on Black and Brown-owned businesses, which even before COVID struggled to access …
Illumen Capital’s $85 million fund is combating fund manager biases to drive impact and alpha
ImpactAlpha, Oct. 2 – Reduced bias. Increased performance. More impact. That’s the timely thesis of Illumen Capital, the impact investment fund-of-funds led by Daryn …
Changing investment algorithms to advance racial justice
ImpactAlpha, Oct. 1 – What got us here won’t get us where we need to go. Guidelines that govern global finance need to …
Changing the investment algorithm to advance racial justice
ImpactAlpha, Sept. 22 – It’s time to recode market systems that generate racial injustice. Last month’s Agents of Impact Call joined two conversations …
Oakland Black Business Fund launches with COVID relief funding
ImpactAlpha, September 2 – Oakland Black Business Fund, a new nonprofit investment fund, aims to help Black-owned businesses weather and recover from the …
Rooting out racism as a systemic risk
ImpactAlpha, Aug. 27 – Investors have been talking about systemic risks at least since the Great Financial Crisis of 2008. More recently, climate …
How investors are challenging assumptions and building portfolios to advance racial equity
ImpactAlpha, Aug. 13 – The national reckoning with racial justice has generated a raft of reports and resources for investors. Recent contributions: Inconvenient …
Q&A with Founders First’s Kim Folsom: Helping diverse founders grow businesses with revenue-based financing
ImpactAlpha, July 28 – The national focus on racial justice has expanded to include equity in finance and investing. Implicit bias in venture …
Expanding the pool of entrepreneurs and ownership structures that have access to capital
ImpactAlpha, July 20 – Revenue-sharing, ‘collaborative endorsements,’ and diverse referral networks are among the strategies being explored by the first funds chosen by …
Open Society Foundations backs racial justice groups with $220 million
ImpactAlpha, July 13 – Spurred by the ongoing social mobilization, George Soros’ foundation is placing long-term bets on activists. The foundation will put …
LeBron James signals opportunity for ‘empowerment’ media with $100 million raise
ImpactAlpha, June 29 – NBA megastar LeBron James and his long-time friend and business partner Maverick Carter raised $100 million for SpringHill Co, …
Investors commit to racial justice action
ImpactAlpha, June 22 – More than 100 institutional investors signed on to a Racial Justice Investing Coalition pledge to address structural racism. “We …
Scaling the ‘capillary banking system’ to expand access to capital
ImpactAlpha, June 18 – When the COVID crisis hit, Alphabet’s philanthropic arm, Google.org, zeroed in on boosting access to capital for women and …
Nadia Brigham (top left), Sarah Eagle Heart (top right), Erika Alexander (bottom left) and Javier Torres-Campos (bottom right)
Spectrum of companies, capital and creatives aim for justice
ImpactAlpha, June 10 – Protests in the streets continue to challenge systemic injustices. Agents of Impact at this week’s Spectrum conference, produced by …
Investing in racial justice by shifting narratives, power and capital
ImpactAlpha, June 4 – Social justice protests in the streets are exposing misperceptions of risk and opportunity in financial markets. Systemic racial bias …
Local funds model the racial reckoning and renewal central to the COVID recovery
ImpactAlpha, June 3 – If the COVID crisis has laid bare longstanding inequities, the widespread protests over the police killing of George Floyd …
Overheard at the Mission Investors Exchange: Inclusive and catalytic capital
ImpactAlpha, May 12 – Decades of experience battling racial and economic disparities must be brought to bear on the COVID crisis, said presidents …
Will low-income and communities of color again fall through the cracks of small-business relief?
ImpactAlpha, April 23 – Hopes were high in community finance circles that the fresh round of federal small business relief funding would carve …
How community banks and local lenders are bridging racial gaps in COVID recovery
ImpactAlpha, April 9 – When President Trump gathered bankers for a video conference about financial relief for small businesses, CEOs of Goldman Sachs, …
How community investment funds are building resiliency to disasters, pandemics and economic shocks
ImpactAlpha, March 11 – After Hurricane Katrina, Jessica Norwood watched systems break down all around her community of Prichard, Alabama, a community of color …
Foundations are diversifying who manages their billion-dollar endowments
ImpactAlpha, Feb. 19 – Asset allocators inside pension funds, endowments, foundations and sovereign funds overwhelmingly select white and male-owned firms to manage their …
Photo by Clay Banks on Unsplash
Centering Blackness in the U.S. economic recovery and reconstruction in 2021
The period after the Civil War was a time of great ferment, division – and systemic change. Today’s confluence of pandemic, division and …
Local, inclusive and entrepreneurial: How stakeholders are taking back capitalism in 2020
ImpactAlpha, Dec. 16 – The people are rising up. Protests erupted this year in cities around the globe, sparked by price hikes and …
Inclusive capital means more flexible terms and more diverse founders
ImpactAlpha, Dec. 10 – The venture capital model has fostered a culture of growth at any cost – and of founder homogeneity. Pitchbook …
‘Neighborhood investment company’ helps Los Angeles residents buy back the block
ImpactAlpha, Dec. 4, 2019 – Real estate shapes our cities and neighborhoods. And capital shapes real estate. A new model that enables local …
Candide Group raises $40 million fund for community lenders advancing racial justice
ImpactAlpha, Nov. 5 – A lack of capital has made it harder for entrepreneurs in underserved communities to build wealth. The few funders working …
Moving from community development to community wealth
ImpactAlpha, Oct. 29 – With inequality at an all-time high, cities are rethinking their decades-old approach to community revitalization. A “quiet revolution” is …
Oakland’s community capitalists are modeling an inclusive economy
ImpactAlpha 24, 2019 – The New York Times columnist David Brooks wants to build a national movement of social fabric “weavers.” Oakland’s already …
Q&A with Rodney Foxworth: Redistributing wealth, democratizing power and shifting economic control for our Common Future
ImpactAlpha, Oct. 15 – The median wealth of African Americans is on track to drop to zero by 2050. The lack of progress on the …
Investing in the impact of powerful new voices in film and video games
“Creating Impact,” ImpactAlpha’s series of articles on impact media, is sponsored by Upstart Co-Lab, a national collaboration disrupting how creativity is funded by connecting …
The better fund managers of color perform, the more bias they face
ImpactAlpha, August 13 – It’s not a pipeline problem. Of the $69.1 trillion in assets managed by mutual funds, hedge funds, real estate and …
From resistance to revival: Can the Democratic debates mobilize support for America’s inclusive economic agenda?
ImpactAlpha, July 30 – Democratic candidates have a chance to turn resistance into revival. In this week’s debates in Detroit, policy wonks will spot …
Wakanda’s on-screen lessons for ‘inclusion alpha’
ImpactAlpha, July 3 – Black Panther’s big screen story of Black technological and economic power resonated with the team at Impact America Fund (see, …
How Kellogg Foundation is interrupting racial bias in capital markets
Detroit, Mich. – Hidden prejudices show up in health and education outcomes that divide along racial lines. Implicit bias shapes capital markets as well. …
At least five ideas for broadening access to capital for entrepreneurs
ImpactAlpha, June 5 – A tweet about barriers to access to capital for entrepreneurs sparked an outpouring of ideas for removing them. The …
Equity crowdfunding changes who gets financed
ImpactAlpha, May 21 – Three years after the equity crowdfunding exemption in the Jumpstart Our Business Startups, or JOBS, Act took effect, startups and …
Kapor Capital outperforms by ‘closing gaps’ for communities of color
ImpactAlpha, May 10 – Every investment firm aspires to rank in the top quartile of comparable firms. Not many achieve that rank by focusing …
How community lenders are boosting the pipeline and diversity of investable projects
ImpactAlpha, March 25 – The Reinvestment Fund’s research on food systems, for example, increased the collective capacity of community development financiers to lend to grocery …
Investing for racial equity: highlights from Confluence Philanthropy’s practitioners’ gathering
ImpactAlpha, March 11 – Communities of color—particularly African and Native Americans—are notoriously underserved and undercapitalized. Exacerbating the problem is the lack of diversity in …
‘Inclusive cannabis’ investors apply a racial-equity lens to a high-flying industry
ImpactAlpha, February 26 – It was 2016 and recreational weed was barreling toward legalization in California. Christine de la Rosa and her co-founders …
The Impact Alpha: A minister’s call for moral, as well as economic, revival
Fifty years after the assassination of Martin Luther King, another black southern minister is paying homage by organizing a new popular movement for …
Melissa Bradley: Boosting the success of Washington D.C.’s founders of color
New Revivalists is a series from ImpactAlpha and Village Capital profiling the people, places and policies reviving entrepreneurship — and the American Dream. New Revivalist: Melissa …
Impact Voices
Stopping the financing of prisons and jails through municipal bonds
Investors must pledge to stop exploiting and extracting from the poor and communities of color. One relatively straightforward and easy approach would be …
Local and replicable solutions for shared prosperity and economic justice
Markets evolve. Innovations that initially seem like rocket science become replicable templates. For those repairing local economies, making them fair places where people …
Chicago turns to low-cost municipal bonds to ‘get the lead out’ of its water pipes
Last month, the city of Chicago made a meaningful downpayment on changing the health trajectory for hundreds of thousands of children and women …
How Fair Food Network is reshaping investment norms to fight wealth inequity
Despite the good intentions and creative strategies of impact investors, extreme wealth inequity persists. The climate crisis will only deepen the divide, unless …
CapEQ’s Tynesia Boyea-Robinson
A moonshot mindset for social-impact advantage
Editor’s Note: The Social Impact Advantage, the new book from Tynesia Boyea-Robinson of CapEQ, walks readers through a step-by-step process for what it …
Image credit: Patagonia
Pursuing environmental justice through the Inflation Reduction Act
The Inflation Reduction Act is a historic investment in marginalized communities on the frontlines of climate change. However, the bill also links renewable …
David Reuter of private equity firm LLR Partners.
Three ways to move your private equity firm closer to racial justice – and create value
Like many people, the summer of 2020 was a moment of personal and professional reckoning for me. The uprising that followed the murder …
Thoughts of a Black fund manager
I am a Black fund manager. There are not many of us: Less than 2% of AUM are managed by diverse-owned firms. I …
The competitive advantage of lived experience
There is growing awareness about the importance of attracting diverse talent, but still little meaningful action. As investors, it is imperative we look …
Emerging impact fund managers tap ‘community rounds’ to overcome fundraising barriers
A new, more democratic approach to fundraising is putting wind in the sails of new impact fund managers. ‘Community-led investing rounds’ have the …
Credit: GRID Alternatives
Fixed-income strategies can offer scalable impact with low risk and liquidity
For financial advisors, impact and investing continue to converge, with new concepts and momentum shaping the way investors view their participation. The desire …
Combating bias in asset management with catalytic capital and inclusive due diligence
Editor’s note: This blog is part of ImpactAlpha’s series, “Seeding Impact,” authored by participants in the Catalytic Capital Consortium (C3) Seeding Learning Labs. …
The growth of diverse entrepreneurs is a movement, not a moment
Diversity, equity, and inclusion overall has drawn interest from impact investors in recent years, driven in part by the pandemic’s ravaging effect on …
Keeping communities at the center of equitable infrastructure by reimagining risk, power and accountability
Largely missing from conversations around the $1.2 trillion bipartisan infrastructure deal has been an acknowledgement of the impact of past infrastructure investment to …
Amazon forest | Photo credit: Brastock
Seven or more ways to lead with justice in climate investing
Black and Indigenous communities live on the front lines of the climate crisis – where negative health, quality of life, and economic outcomes of …
Ashanti Williams from the Black Yard Farm | Photo credit: lex Barlowe
Black Farmer Fund is reimagining U.S. agricultural finance, on farmers’ terms
A century ago, Black farmers represented 14% of all farmers in the U.S. Now? Just 1.4%. Barriers to affordable financing have cost farmers …
A human-centered approach for impact investing in climate action
Climate finance is booming, now reaching over $600 billion in 2020. Yet, as the newest IPCC report makes clear, unequal climate impacts are …
Photo by Gayatri Malhotra on Unsplash
Shifting power, redefining risk, and advancing justice: A model for investors to advance racial equity
Over 100 million people in America live in economic insecurity, which includes half of all people of color. As we become a more …
The list of 160 funds creating opportunities for Black, Indigenous and other people of color
This work is a joint project of Bridgespan Social Impact, the Global Impact Investing Network (GIIN), PolicyLink, and CapEQ. Since the social unrest …
Photo credit: Shutter.B
How impact investors can leverage the infrastructure bill to help disinvested communities catch up
After years of discussion, negotiation, failed efforts, and disappointment, we finally have a once-in-a-generation bill that will invest in the physical infrastructure of …
Photo credit: Getty
Institutionalizing the racial reckoning in Community Reinvestment Act reforms
After a tumultuous two years of unraveled reforms, the Community Reinvestment Act, known as the CRA, has a real chance of being modernized …
Photo credit: GaudiLab
Patient capital for established BIPOC businesses to close racial wealth gaps
Yes, startups led by Black, Indigenous and people of color-owned need growth capital. But meeting the growth and operating capital needs of established …
Photo by Guilherme Cunha on Unsplash
Expanding employee ownership to empower workers and strengthen small businesses
The ongoing Covid-19 pandemic has made the already unpredictable futures of working and middle class Americans even more fragile. Impact investors are turning …
New York, NY
Racial equity planks in a new Community Reinvestment Act can expand the American Dream
When most Americans think about civil rights, we think about the violence perpetrated upon Black Americans and the nonviolence movement that finally helped …
Martin Luther King Jr. Mural at the National Historic Site in Atlanta, GA (photo: Forty3Zero)
Centering civil rights in community finance
Americans are admonished that opportunity is available to those who are willing to “pull themselves up by their bootstraps.” Let’s measure how long …
Redefining risk to catalyze capital for community-based real estate developers
Corporate America’s diversity problem is well-established. The disparities in the real estate industry, which controls the levers of how entire communities are shaped, …
There’s no building back better without investing in underserved communities
Between record levels of government stimulus, an unprecedented vaccination campaign and a buzzing economy, it’s easy to see reasons for optimism as America …
CEO Robert Carter and owner-operator Shekita Hammond. Courtesy of Carter Transportation Group.
How usable capital can unleash Black business growth and close racial gaps
Carter Transportation is a minority-owned freight delivery service that operates nationwide. It is a relatively young company, without an operating history for traditional …
Centering disability justice and including Covid long haulers in the post-pandemic economy
Since recovering from COVID-19 last November, I have experienced brain fog, heart issues, intense fatigue, sleepless nights, and difficulty breathing. In May, I …
Juneteenth parade Philadelphia | Photo credit: Tippman98x
Celebrating Juneteenth through community-based lending for vibrant neighborhoods
The promise of freedom was kept from enslaved people in Galveston, Texas for two and half years after the Emancipation Proclamation. On June …
Photo by Sajad Nori on Unsplash
To help address systemic racism impact investing needs to get systemic
Even before our society shut down for 13+ months, before a summer of uprisings against racial injustice, and before a historic election season that …
Photo credit: Wave Break Media
Family office opportunities for impact-first investments in racial equity and justice
The COVID-19 pandemic’s devastating toll on communities of color and concurrent national protests against recurring police violence toward Black people have sparked a …
Carmen Rojas of The Marguerite Casey Foundation | Photo credit: The Nonprofit Times
100 Days of President Biden: Progress and peril on the road to a just economy
As the Biden administration completes its first 100 days, I am both surprised by the ambition of this administration and disappointed by its …
Boston Ujima Project | Photo credit: Boston Ujima Project
Centering community voices and power in investment processes
The increased investor attention to racism and the inequality laid bare by the ongoing COVID-19 crisis has intersected, at long last, with the …
National Memorial for Peace and Justice, Montgomery, AL | Photo credit: DiAnna Paulk
Grounding investors in history to ensure this Reconstruction delivers on its promise
For us at Illumen Capital, the echoes of history are never far from the work at hand. We know we can only begin …
Image by Claudio Schwarz / Pulled from Community Credit Lab website
Sacrificing returns? These community investors ask if they’re sacrificing impact.
The time is now for the impact investing sector to reflect on how it does business, how it frames success, and begin to …
Five ways that lenders can interrupt racism and provide restorative-justice capital in our communities
Can community development financial institutions be anti-racist? Don’t answer too quickly. For those familiar with the history of CDFIs, specifically created to align …
Why investing corporate cash to close racial wealth gaps can shore up long-term growth
Technology has enabled some big winners in the world of commerce. The five largest U.S. companies by market cap – Apple, Microsoft, Amazon, …
Path to 15|55 has $100 million in commitments to grow Black businesses
Business ownership and entrepreneurship are some of the best tools we have to grow the wealth of Black communities. “The median net worth …
How corporations can make good on their racial equity pledges
Netflix and Goldman Sachs are in vastly different businesses, but in formulating their responses to the racial crisis facing America, these corporations came …
Corporate deposits in CDFIs are good. Equity investments would be even better.
Community development financial institutions are having a moment – finally being recognized for their critical role in supporting low-wealth communities. CDFIs are on …
Digging deeper to root out racism in investment portfolios
Investors need to build a broader toolbox for advancing racial justice. To do that, we need to experiment with strategies that demonstrate what …
How impact investors can help ensure racial justice includes electoral justice
ImpactAlpha, Sept. 1 – With voter registration deadlines rapidly approaching, our firm is seeing a desire amongst impact investors to elevate voting rights …
How investors can blend finance for CDFIs to advance economic and racial justice
Community development finance institutions have long been “first responders” to small businesses in historically underinvested communities. The COVID-19 pandemic has in stark terms …
How Babcock Foundation is investing its endowment with a focus on racial justice
The disproportionate harms to Black Americans wrought by COVID and those wrought by police brutality are symptoms of the same disease: racism hardwired …
Buying Black shouldn’t be so hard. Here’s how investors can help.
ImpactAlpha, Aug. 13 – I have always done my best to support businesses that are led by people of color. Since I am …
Dismantling structural racism in community development finance
ImpactAlpha, Aug. 11 – By most measures, the federal New Markets Tax Credit (NMTC) Program has been a resounding success. Since its creation …
How to unlock the value of diversity and inclusion in impact investing
It’s time for the impact investing community to lead the investing world in breaking through the systemic barriers that impede capital from flowing to Black leaders and other leaders of color.
The $55 billion plan: Accelerating Black-owned businesses to create wealth, jobs and growth
A systemic problem requires a systemic solution. Black businesses, because of lack of access to capital, among other reasons, cannot grow and hire …
Photo by Myleen Hollero
Black and brown employee ownership for the post-COVID economy
Black and brown ownership matters in rebuilding a more just, equitable and resilient economy. The murder of George Floyd and the heroic actions …
Hacking community lending to interrupt racial bias in ‘appraised value’
ImpactAlpha, May 7 – No nonprofit or small business should have to raise more money to serve kids in communities of color than they …
Dealflow
Macro's Charles D. King | Credit: Getty
Charles King’s Macro raises $90 million to amplify diverse voices in Hollywood
ImpactAlpha, Mar. 8 – Hollywood super agent turned entrepreneur and investor Charles King created Macro in 2015 to put voices and perspectives of …
VC Include BIPOC First-Time Fund Manager fellows | Photo credit: VC Include
VC Include to accelerate investments into a dozen diverse first-time fund managers
ImpactAlpha, Sept. 20 – First-time fund managers tend to outperform their more experienced peers but face structural barriers and biases in raising capital, and …
Kapor Capital team | Photo credit: Kapor Capital
Kapor Capital attracts outside investors to $126 million fund to close equity gaps
ImpactAlpha, Sept. 7 – Oakland-based investment firm Kapor Capital has deployed the capital of Mitch Kapor, a founder of Lotus Software, and educator Freada …
Credit: Apple
Apple accelerates Black-, Latinx- and Indigenous-owned suppliers to meet its climate goals
ImpactAlpha, Aug. 29 – The second cohort of Apple’s Impact Accelerator includes Navajo Power, a majority Native-owned firm led by Brett Isaac that develops …
Josh Aviv of SparkCharge
Cleantech incubator stands up debt fund focused on women, Black and Brown founders
ImpactAlpha, Jun. 8 – The Los Angeles Cleantech Incubator, or LACI, has a new tool to increase access to capital for cleantech founders historically …
VC Include team
VC Include backs 10 climate funds led by diverse managers
ImpactAlpha, Apr. 21 – Black and Brown communities disproportionately impacted by climate change are an important source of talent, ideas and solutions. Unlocking those …
Strawberry Mansion section of Philadelphia | Photo credit: Mosaic
Black-owned developer Mosaic raises $10 million for equitable real estate in Philadelphia
ImpactAlpha, Jan. 24 – Led by Leslie Smallwood-Lewis and Greg Reaves, Mosaic focuses on projects in neighborhoods largely left out of Philly’s development boom. …
Marcus Whitney | Photo Credit: Jumpstart Nova.
Jumpstart Nova raises $55 million to invest in Black healthcare founders
ImpactAlpha, January 18 — If venture capital for Black entrepreneurs has historically been scarce, venture funding for Black healthcare founders has been almost …
Photo credit: Noble Network of Charter Schools.
Equitable Facilities Fund secures $300 million to finance Black schools leaders
ImpactAlpha, December 13 — Equitable Facilities Fund, a New York-based nonprofit social impact fund, has since 2017 deployed $585 million in low-cost and …
Photo credit: iStock/dragana991.
Amazon launches accelerator program for affordable housing developers of color
ImpactAlpha, December 13 — Black Americans make up nearly half of the people living in federally financed affordable housing. But only 2% of …
Equitable economic growth tops agenda at Commerce Department convening
ImpactAlpha, November 10 — Top officials across the Biden administration committed to advance economic equity for communities of color and underrepresented groups, at …
Photo credit: Northwestern Mutual.
Northwestern Mutual accelerator backs five Black founders
ImpactAlpha, November 8 — The inaugural cohort of the Black Founder Accelerator, launched by the Milwaukee-based financial services giant earlier this year, includes …
Photo credit: Getty Images.
Black Vision fund raises $25 million to support Black-owned small businesses
ImpactAlpha, October 28 — Expanding Black Business Credit, a consortium of Black-led community development financial institutions, or CDFIs launched the fund even before …
Photo by Christina @ wocintechchat.com on Unsplash
Echoing Green and Goldman Sachs team to back Black women social innovators
ImpactAlpha, October 19 — New York-based Echoing Green will receive $1 million to create fellowships (applications are open) for Black women social entrepreneurs …
Photo credit: The Motley Fool.
Center Creek impact fund raises $30 million to invest in affordable single-family homes
ImpactAlpha, October 13 — Single-family properties represent more than half of all rental housing in the country. Nearly two-thirds of Black and Hispanic …
Photo credit: Elemental Excelerator
Elemental Excelerator spins out Earthshot Ventures with $60 million for inclusive climate tech
ImpactAlpha, Sept. 8 – Honolulu-based Elemental has built a track record over the past decade backing entrepreneurs like BlocPower’s Donnel Baird and ChargerHelp’s Kameale …
Photo credit: Apple.
Apple’s inaugural Impact Accelerator includes 15 Black and Brown climate startup founders
ImpactAlpha, August 18 — The accelerator is part of Apple’s $100 million Racial Equity Equity Initiative launched in June 2020. The three-month training …
Photo credit: Modern Healthcare.
Clinify Health and HUED raise funding to improve access to health providers for underserved communities
ImpactAlpha, August 17 — Chicago-based Clinify is aiming to improve healthcare access and outcomes for families by combining financial and clinical data with …
Photo credit: Poblocki Sign.
Northwestern Mutual backs Black fund managers with a $100 million impact fund
ImpactAlpha, August 12 — Financial services giant Northwestern Mutual is hoping to catalyze investments in underserved Black communities, especially in Milwaukee, where it is …
Photo credit: Black Enterprise.
Packard Foundation commits $25 million to address racial disparities in credit
ImpactAlpha, August 11 — More than 50% of white U.S. households have a FICO credit score above 700, compared with only 21% of …
iStock/izusek.
Enterprise Community Partners’ racial equity bond raises $30 million
ImpactAlpha, July 15 — Minneapolis-based U.S. Bank purchased the first $10 million for the bond, the first to be issued by a community …
Photo by Scott Webb on Unsplash
Enterprise Community Partners closes $229 million affordable and workforce housing equity fund
ImpactAlpha, July 1 – The $229 million Enterprise Preservation Fund seeks to acquire and preserve $800 million in existing affordable and workforce rental …
Photo credit: Media Frenzy.
Google for Startups launches second $5 million Black Founders Fund
ImpactAlpha, June 22 — Google launched its inaugural $5 million Black Founders Fund last year as part of its $175 million initiative to …
Photo credit: iStock.com
Micron backs women-owned Seelaus Asset Management to advance housing equity
ImpactAlpha, June 14 — Boise, Idaho-based Micron Technology last year committed $50 million to an impact strategy managed by RBC Global Asset Management …
Photo credit: Tulsa People.
One hundred years later, investing in the reconstruction of Black Wall Street
ImpactAlpha, June 2 — President Biden became the first president to commemorate the 1921 Tulsa Race Massacre that destroyed the thriving Black community …
Photo credit: Chris Shinn/Spelman College.
Base10 will donate half its profits in a new $250 million fund to historically Black colleges and universities
ImpactAlpha, June 1 — Limited partners in the Black-led San Francisco venture firm’s Advancement Initiative fund include Howard University, Florida A&M, Hampton University, …
Photo credit: Collab Capital portfolio company Hairbrella
Collab Capital closes $50 million Black innovation fund
ImpactAlpha, May 27 – Atlanta-based Collab Capital launched its fund less than a year ago to invest in early-stage, Black-led businesses that are building …
LISC closes $250 million Black Economic Development Fund to catalyze capital for racial equity
ImpactAlpha, May 26 — The vehicle’s objectives: Increasing access to capital for businesses that support economic growth in Black communities. Strengthening local Black …
Photo credit: Thrilling
Thrilling raises $8.5 million for secondhand fashion marketplace
ImpactAlpha, May 16 – L.A.-based Thrilling has raised $8.5 million to expand its secondhand fashion marketplace. The Black and Asian-owned startup helps small vintage …
Lake Street in Minneapolis, MN | Photo credit: Sam Wagner
Helping communities acquire assets and rebuild small businesses in Minnesota
ImpactAlpha, May 6 – The conviction of former officer Derek Chauvin for the murder of George Floyd sent a signal to residents of Minneapolis …
Photo credit: ExecOnline
ExecOnline raises $45 million to diversify corporate leadership
ImpactAlpha, Apr. 22 – Less than 1% of Fortune 500 CEOs are Black. Less than 10% are women. ExecOnline partners with business schools to …
Photo credit: AdvancedAg, an Indigenous-owned water and agtech company in Alberta
Indigenous Growth Fund raises $150 million to back Native lenders in Canada
ImpactAlpha, April 20 – A new fund in Canada is aiming to impact marginalized Indigenous communities by channelling capital to Indigenous-owned financial institutions. The …
PC: Reinventure Capital.
MassMutual backs Reinventure Capital fund for diverse founders
ImpactAlpha, April 8 — A Reinventure Capital impact venture fund, led by Edward Dugger III, received a “catalytic commitment” of $5 million from …
Kathryn Finney. Photo by Genius Guild.
Genius Guild scores $5 million financing to back Black-led tech ventures
ImpactAlpha, April 6 — Racial inequities have cost the U.S. economy more than $16 trillion over the past two decades. Closing racial gaps …
Harlem Capital closes $134 million second fund to back diverse entrepreneurs
ImpactAlpha, April 1 — New York-based venture firm Harlem Capital aims to invest in 1,000 companies led by women and minority founders over …
ChargerHelp's Evette Ellis and Kameale Terry | Photo: ChargerHelp
ChargerHelp raises $2.8 million to repair EV chargers with good green jobs
ImpactAlpha, Mar. 31 – The U.S. will need to add roughly 20 million electric-vehicle charging stations by 2030, per McKinsey. The South Central L.A.-based …
MaC Venture Capital raises $110 million for culture-change startups
ImpactAlpha, March 30 — LA-based early-stage venture firm MaC Venture Capital aims to see women and people of color represented in society, business …
Greenwood scores $40 million from top financial institutions to bank Black and Latino Americans
ImpactAlpha, March 29 — Greenwood, Black-led neobank founded by former Atlanta mayor Andrew Young, rapper Michael ‘Killer Mike’ Render, and Bounce TV’s Ryan …
General Catalyst aims latest SPAC at Black tech founders
ImpactAlpha, March 15 – Listings of special purpose acquisition companies, or SPACs, hit a record in February, raising more than $27 billion. Venture capital …
Bitwise founders Jake Soberal and Irma Olguin Jr.
Bitwise Industries raises $50 million to go national with its model for inclusive tech ecosystems
ImpactAlpha, February 24 — Before the growth of Bitwise Industries, few would have mistaken Fresno, California, for a tech hub, even though the …
Brooklyn’s BlocPower raises $63 million to green U.S. buildings
ImpactAlpha, February 23 — BlocPower works with utility companies, government agencies and property owners to retrofit city buildings in underserved communities and finance …
Black-led real estate firm East Chop Capital closes $4 million fund
ImpactAlpha, January 12 — Columbus, Ohio-based East Chop Capital, founded by a pair of Black real estate investors and developers, has rallied Black …
Adasina's Rachel Robasciotti
Adasina launches ETF of public equities screened for social justice values
ImpactAlpha, Dec. 15 – Financial activism firm Adasina Social Capital has launched the Adasina Social Justice All Cap Global ETF (NYSE: JSTC) on the …
Fifth Third Bank pledges $2.8 billion to accelerating racial equity
ImpactAlpha, December 9 — Several banks have pledged billions this year to advance racial equity in response to the racial justice movement, like …
Photo Credit: SoLa Impact.
SoLa Impact’s billion-dollar impact fund targets Black and Latinx communities
ImpactAlpha, December 8 — SoLa Impact, a family of social impact-focused affordable housing funds, launched a billion-dollar fund to build affordable housing in …
Rise of the Rest backs Black-led startups
ImpactAlpha, December 7 — Three Black-led, U.S.-based companies landed a combined $2 million in investment capital and other commitments through Revolution’s Rise of …
‘Justice tech’ and edtech ventures selected for gener8tor social enterprise accelerator
ImpactAlpha, November 16 — The Madison, Wis.-based gBeta Social Impact’s virtual accelerator is supporting 10 founders addressing equity in education and criminal justice …
Illustration by Tomi Um.
Twitter invests $100 million in OFN’s new racial justice fund
ImpactAlpha, November 12 — Google, Netflix, PayPal, Square. Twitter is the latest big-tech firm to throw its weight — and corporate cash — …
New and under-represented fund managers get a $50 million boost from Paypal
ImpactAlpha, Oct. 28 – The online payments company is injecting $50 million into eight early-stage venture funds run by Black and Latino managers to …
LISC bets on Fearless Fund with $750,000 investment in first-time fund managers
ImpactAlpha, Oct. 27 – One of the best ways to get more capital to entrepreneurs of color is to have more venture funds …
Impact America’s $55 million second fund is hunting for unicorns in the disruption of systemic racism
ImpactAlpha, Oct. 27 – Kesha Cash has raised $55 million to look for technologies that address one of the largest market inefficiencies of our …
Michael “Killer Mike” Render, Ambassador Andrew J. Young and Ryan Glover are founders of Greenwood, the first digital banking platform for Black and Latinx people and business owners. Greenwood features best-in-class online banking services and innovative ways of giving back to Black and Latinx causes and businesses.
Greenwood raises $3 million for a digital bank for Black and Latinx customers
ImpactAlpha, Oct. 12 – ‘Neobank’ Greenwood, founded by former Atlanta mayor Andrew Young, rapper Michael ‘Killer Mike’ Render, and Bounce TV’s Ryan Glover, …
JPMorgan commits billions to build Black and Latinx wealth
ImpactAlpha, Oct. 12 – JPMorgan Chase is touting $30 billion in commitments to close the racial wealth gap. JPMorgan Chase will add $8 …
Creative economy fund for underserved communities launches with an investment in Techstars
ImpactAlpha, Oct. 8 – Concord, a music and theatrical publishing and management firm, has created a $10 million impact investment initiative to support …
Bank of America issues $2 billion ‘equality progress’ bond to advance racial equity
ImpactAlpha, September 29 – Bank of America has issued a $2 billion bond to advance racial equity. Proceeds from the five-year bond will …
Lightship Capital invests in fashion brand Haute Hijab
ImpactAlpha, September 23 – Melanie Elturk founded Haute Hijab to serve hundreds of millions of Muslim women underserved by global clothing brands. Backstage …
Mastercard commits $500 million over five years to reduce racial wealth and opportunity gaps
ImpactAlpha, Sept. 21 – Mastercard has committed $500 million over five years to reduce racial wealth and opportunity gaps. “The economic costs of …
Broadway Financial and City First Bank merge to boost access capital in underserved urban areas
ImpactAlpha, Aug. 27 – The joining of the Los Angeles and Washington, D.C.-based community development financial institutions, or CDFIs, will create the largest …
Lightship Capital backs foodtech startup FreshFry as its first investment
ImpactAlpha, July 16 – Louisville, Ky.-based FreshFry has developed a plant-based product that helps food service businesses extend the life of frying oil. …
Netflix to move $100 million in cash deposits to lenders in Black communities
How companies deploy their cash reserves is becoming an issue of governance, the ‘G’ in ESG.
Collab Capital launches fund for Black founders
ImpactAlpha, June 10 – Before the economic fallout of COVID and mass mobilization for racial justice, Jewel Solomon Burks, Justin Dawkins and Barry …
Andreesen Horowitz and Softbank launch venture funds for diverse entrepreneurs
ImpactAlpha, June 8 – Venture capitalists have long been criticized for funding mostly white, male founders. Just one percent of venture-backed founders are …
Olamina Fund deploys first $14.5 million to Black, Native and rural lenders
ImpactAlpha, May 20 – The $40 million Olamina Fund fund was launched by Candide Group in November to address a persistent lack of …
Plexo Capital seeks “inclusion alpha” with new $42.5 million fund
ImpactAlpha, December 9 – Lo Toney was still a partner at GV (formerly Google Ventures) when he started Plexo. The GV spinout invests …
Harlem Capital raises $40 million to ‘change the face of entrepreneurship’
ImpactAlpha, Dec. 2 – New York-based venture firm Harlem Capital closed a $40 million fund to invest in U.S. companies led by women …
11 Black-owned tech startups join Durham’s Black Founders Exchange
Eleven ventures from across the country will participate in the Black Founders Exchange, an immersive program for founders of color kicking off this …
Opportunity Zone Justice accelerates returning citizen entrepreneurs in Washington D.C.
ImpactAlpha, July 15 – Consulting firm 20 Degrees, which helps nonprofits and social enterprises diversify revenues, is helping stock D.C.’s Opportunity Zone investment pipeline …
Brooklyn’s Incubator Project backs local nonprofits driving racial justice
ImpactAlpha, July 12 — Brooklyn is a diverse borough, made up of people of color, immigrants and other minority groups. Since 2015, the Brooklyn …
Squire secures $8 million to bring barbershops into the digital age
ImpactAlpha, July 1 – Songe LaRon, Dave Salvant and Yas Tabasam founded Squire in 2016 out of frustration that they couldn’t reliably find a good …
Prudential backs Aura to help underbanked customers build their financial futures
ImpactAlpha, June 25 – Prudential Financial invested $10 million in fintech company Aura to help adults in the U.S. boost their financial health, starting with …
TPG invests in Harlem Capital and its fund for minority entrepreneurs
ImpactAlpha, June 25 – Investors are moving to seize “inclusion alpha.” TPG made an undisclosed equity investment in New York-based Harlem Capital, which invests in …
Upswing clinches $2 million to help underserved students navigate and complete university
ImpactAlpha, May 21 – Private equity big shot Robert Smith changed the lives of Morehouse College’s latest graduating class with a promise to pay off …
Serena Williams’ portfolio of diverse and impactful startups
ImpactAlpha, April 22 – Tennis mega-star Serena Williams has (not-so-quietly) invested millions over the last five years into dozens of diverse-led and impactful startups. …
Backstage accelerator backs 25 underestimated founders in Detroit, Philadelphia, L.A. and London
ImpactAlpha, March 11 – WhoseYourLandlord, founded in Philadelphia by Ofo Ezeugwu to empower and inform renters, is among the first 25 companies backed by Backstage Capital’s …
Landit lands $13 million to support professional growth for women and minorities
ImpactAlpha, February 27 – Professional development and coaching firm Landit has raised a $13 million Series A funding round led by WeWork. The company …
Haute Hijab raises $2.3 million for ethically-sourced headscarves
ImpactAlpha, February 26 – New York-based fashion company Haute Hijab was one of 64 companies venture capital firm Backstage Capital seeded with its …
Calls
Photo by Tamarcus Brown on Unsplash
Mispriced risks, investor demand and community power center racial equity in municipal bonds
ImpactAlpha, Nov. 18 – Cities around the U.S. are raising low-cost capital in the municipal bond markets by highlighting intentional efforts to address long-standing …
The Reconstruction in 2022: Seizing the moment to build multiracial prosperity and democracy
‘Tis the season for our lookaheads to 2022 and, thanks to ImpactAlpha subscribers, we are able to make the roundups freely available. So …
Black tech, green solutions for the planet and the people
ImpactAlpha, Oct. 15 – Invest in climate action for the planet – and the people. “Climate change is a public health issue, it’s a …
Photo by K. Mitch Hodge on Unsplash
Call No. 29: Capitalism reimagined for fair gainsharing and equitable prosperity
ImpactAlpha, July 9 – Elevating the power (and wages) of low-income workers is not typically at the top of investors’ agenda. But a fairer …
Changing investment algorithms to advance racial justice
ImpactAlpha, Oct. 1 – What got us here won’t get us where we need to go. Guidelines that govern global finance need to …
Rooting out racism as a systemic risk
ImpactAlpha, Aug. 27 – Investors have been talking about systemic risks at least since the Great Financial Crisis of 2008. More recently, climate …
Agents of Impact
Bold leaders. Taking action. Driving impact.