LP View: Breaking Bias to Drive Returns w/ Joanna Kuang, Illumen Capital
“We believe an inclusive and optimal asset management industry will be the cornerstone of an equal and equitable future.” - Illumen Capital
While organizations explore ways to embody diversity, equity, and inclusion (DEI), authenticity and clear, measurable outcomes are essential for effectiveness.
This week, we're joined by Joanna Kuang, Senior Vice President of Product Development and Impact at Illumen Capital. We delve into the significance of impact investing and strategies to ensure tangible efforts are made to drive meaningful change in venture, in our society.
TIMESTAMPS / KEY TAKEAWAYS
0:00 - Intro
02:18 - Joanna’s backstory as the daughter of immigrants; living experience in Mississippi Delta that drove her to join Illumen Capital
04:02 - Genesis of Illumen Capital as a fund of funds
05:42 - Study alongside Stanford SPARQ: Race influences professional investors’ financial judgments (2019)
09:16 - Diversity efforts in venture today; DEI policies
13:10 - Quantitative data to drive accountability; best practices to remove biases in pitching and diligence processes
18:06 - Illumen Capital’s stand under the backdrop of many anti-DEI laws
21:19 - Diversity drives performance: investment strategies and performance measurements
24:41 - Established and emerging managers as the next key strategy for Illumen Capital
28:18 - Portfolio construction as a fund of funds and ticket sizes
30:42 - The winning factors versus common mistakes in diverse fund managers; impact washing
32:47 - Looking ahead 2024 private market; advice for fund managers
35:38 - Billion Dollar Questions
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About Illumen CapitalIllumen Capital is an impact fund of funds addressing systemic inequity by reducing racial and gender bias in investing.
Working closely with the world’s leading social psychologists at Stanford SPARQ, they combine investment capital with evidence-based tools and training designed to reduce implicit racial and gender bias in order to unlock latent return and multiply impact.
More about Illumen Capital: https://www.illumencapital.com
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