ImpactAlpha, July 10 – The movement for racial justice in the criminal justice system has cast a spotlight as well on systemic and anti-Black racism in finance.
Long before the protests, ImpactAlpha has featured Agents of Impact and New Revivalists doing the work of changing assumptions, practices and power structures within finance and investing. They are dismantling age-old excuses, biases and malpractices, including within impact investing itself, that lead to inefficient allocation of capital, underfunded founders of color and unrealized solutions to community needs.
“This moment doesn’t doesn’t create an opportunity,” said Illumen Capital’s Daryn Dodson, who is helping fund managers mitigate their implicit biases. “It reveals an opportunity that was always there.” Other Agents:
- Capital Impact Partners’ Ellis Carr is demonstrating affordable housing, schools, healthcare and grocery stores that serve low-income communities are not as risky as often perceived by outside capital.
- Brian Dixon and Kapor Capital are outperforming venture capital by betting on the “lived experience” of underrepresented founders to close opportunity gaps for communities of color.
- Impact America Fund’s Kesha Cash is on the hunt for companies capturing billion-dollar markets by better serving America’s overlooked communities.
- 1863 Venture’s Melissa Bradley and CapEQ’s Tynesia Boyea-Robinson are wrapping support around Black and Brown-owned businesses to create jobs and wealth.
- Arlan Hamilton of Backstage Capital is redefining who writes the checks in venture capital – and who receives them.
- And Common Future’s Rodney Foxworth is speaking truth to power and positioning community leaders to help investors deploy their capital for impact.