Nonprofit Inspire Access launches platform to help close gender, racial investment gaps

Marcus Baram
Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.

Feb 06, 2024
11 months ago

Inspire Access, a nonprofit that seeks to address inequities in gender and racial investment, has announced the launch of a new platform to steer philanthropic funds to companies led by women and people of color. 

The nonprofit seeks to leverage the $234 billion in charitable dollars currently parked in donor-advised funds (DAFs).

By making a charitable contribution to Inspire Access from DAFs, personal funds or private foundations, donors can recommend an investment in an underrepresented founder through a working-capital loan, direct equity investment or limited-partnership position. And any financial returns go back into the donor's charitable account.

“Today, less than 3% of investment capital goes to women and people of color, which is a startling statistic,” said 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.

Marcus Baram
Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.