Running List of Resources on Diversifying Finance and Impact Investing

Every month, I send a newsletter to the staff at investment firms with whom I work to identify and mitigate racial and gender biases in my role at Illumen Capital. A large part of my philosophy on coaching is acknowledging that we won’t be able to create more equitable capital flows alone or singlehandedly.

Below is a running list of selected publicly accessible resources (updated monthly) centered on building an inclusive future of finance and entrepreneurship. Note: our coaching and curriculum include additional resources, strategies, and actionable tips that I will not include below.

September 2020

The economic impact of closing the racial wealth gap (McKinsey): By closing the racial wealth gap, the US GDP could be 4 to 6 percent higher by 2028, adding between $1 trillion to $1.5 trillion to the 2028 economy.

October 2020

Start Building an Inclusive Company Culture Today (Future for Us): Learn 3 practical tips to build an inclusive workplace. I like this article because it provides tips on what we can do both structurally and personally to shape culture, one of the biggest determinants of inclusion and retention.

November 2020

What Inclusive Leaders Sound Like (HBR): Inclusive leaders use more audience-centered language, understand different perspectives and are able to communicate complex topics to diverse audiences, and demonstrate authenticity. Read the article for more concrete examples.

Moving the dial on gender-smart investing (CDC Group): This guide focuses on the “how” in terms of building a gender smart investment approach, including practical frameworks, checklists and tips

December 2020

Black and Latinx female startups see slow funding gains (Vogue Business): Progress on funding parity is inching forward at a slow pace, but venture capitalists and founders see signs that the tide is changing

The Cost of Fitting In (Fast Company): The emphasis on strong, homogenous company cultures can erase the diversity organizations should be striving for. The idea of fitting may value the comfort of the group over the feelings of any one member, particularly if that member is in the minority. It’s critical to maintain a balance of asking employees to fit in to a dominant culture and stand out — learn concrete actionable tips in this article.

January 2021

Three Ways Mindfulness Can Make You Less Biased (Greater Good Science Center at the University of California Berkeley): Several studies have suggested that practicing mindfulness can reduce prejudice and bias. Read more to learn how.

Latino Entrepreneurs Face — and Can Overcome — Funding Barriers (Stanford Latino Entrepreneurship Initiative at the Stanford Graduate School of Business): “Bankers often use the “Five C’s” — character, capacity, capital, conditions, and collateral — as a way to evaluate applicants for loans. Character is more difficult to evaluate — especially if the banker doesn’t know the borrower well — and harder to mitigate if a lender judges it to be lacking.” Read this research led by Marlene Orozco at the Stanford Latino Entrepreneurship Initiative for strategies for Latino/a/x entrepreneurs to overcome funding barriers.

February 2021

Stop Telling Women They Have Imposter Syndrome (HBR): “A Google search [of imposter syndrome] yields more than 5 million results and shows solutions ranging from attending conferences to reading books to reciting one’s accomplishments in front of a mirror. What’s less explored is why imposter syndrome exists in the first place and what role workplace systems play in fostering and exacerbating it in women. We think there’s room to question imposter syndrome as the reason women may be inclined to distrust their success…”

March 2021

Are Your Diversity Efforts Othering Underrepresented Groups? (HBR): “Many organizations are prioritizing hiring “diverse” talent to increase representation of Black employees. But simply hiring new talent won’t create a culture where Black women and other people of color actually feel included. Seeking a quick fix for racial equity in this way is not only ineffective, it comes with uncalculated costs.”

The Diversity and Inclusion Industry Has Lost its Way (Harper’s Bazaar): This important reflection on the multi-billion dollar industry that is “DEI work” urges us to reconsider what it means to make real change and reframe diversity, equity, and inclusion in deep, meaningful community change that is accountable to relocating power, rather than solely profits or representation in the corporate world

April 2021

What Your People of Color Employees Need Amidst Hate-Based Violence (HBR): Leaders need to acknowledge the pain and fear Black and Asian employees are feeling

We Need to Talk About What It Means to Be White Adjacent in Tech (Project Include): “It’s that mix of privilege and exclusion that gives us just enough power to speak up but not enough to gain equitable access to opportunities and safety.”

Note: all views expressed are my own as an individual, and are not representative of any organization of which I am a part.