Illumen Capital just closed its second fund worth $168 million to tackle racial and gender bias in asset management using this 10-slide LP deck
The real issue is that when Black-led funds present to asset allocators, they are not evaluated impartially, Dodson said."The powerful thing about the research is that that bias, when Black funds are presenting, causes people who spent their whole life training to select the best funds in the world to suddenly miss opportunities and leave money on the table.
Illumen Capital's data-driven thesis is what sets it apart, Dodson said. It gives its portfolio and LP base a curriculum of activities, workshops, and strategies to combat bias. This ranges from a weekend in Montgomery, Alabama, where they are educated on Black history and the context of racial inequality in today's society, to providing data-driven tools to cut the reliance on gut feeling in investing.
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