Inspire Access Launches Platform to Flow Philanthropic Capital to Businesses Led by Women and People of Color
Inspire Access, the nonprofit dedicated to narrowing the gender and racial investment gap, today announced the launch of a new platform that leverages philanthropic capital to fund companies led by women and people of color. A pioneer in impact investing that focuses on this realm of underrepresented founders, Inspire Access is reforming the traditional funding model by mobilizing complacent donor advised funds (DAFs) to invest in companies that have historically lacked access to investment capital.
Currently, over $234 billion in charitable dollars is sitting in DAFs, often unallocated. Through the Inspire Access platform, individuals can direct charitable dollars from their DAFs or a tax-deductible donation into ventures led by women and minority founders shaping the next generation of change-making companies, while also gaining returns for future giving.
"Today, less than 3% of investment capital goes to women and people of color, which is a startling statistic," remarks Patrice King Brickman, founder and CEO of Inspire Access. "By restricting financial access to this group of remarkable leaders, we lose the potential for powerful new companies that are solving problems in creative and effective ways. At Inspire Access, we are passionate about mobilizing the $234B mountain of unallocated capital to move the needle on the disproportionate flow of investment capital that currently exists in order to close the gender and racial investment gap."
HOW INSPIRE ACCESS WORKS
- Make a charitable contribution to Inspire Access from personal funds, DAFs, or private foundation.
- Recommend the investment you want Inspire Access to make in an underrepresented founder through a working capital loan, a direct equity investment, or limited partnership position in a private equity fund.
- Any financial returns go back to your charitable account, to fuel future giving or can be reinvested to continue working to close the investment gap.
Inspire Access has already invested in a roster of the next generation of legendary companies and aims to expand funded organizations throughout 2024. Learn more about Inspire Access at inspireaccess.org, and to make an investment inquiry, please visit https://www.inspireaccess.org/invest-donate.
ABOUT INSPIRE ACCESS
Inspire Access is a 501(c)(3) nonprofit that aims to close the gender and racial investment gap by investing philanthropic dollars to fund companies led by female and diverse founders who have historically lacked investment capital. Inspire Access allows individuals to use funds sitting in their Donor Advised Fund (DAFs) to direct investments in for-profit companies of their choosing, with the return flowing back to those personal charitable entities to make an even greater impact.
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