Patrice, welcome.
Tell me more if you would, about Inspire Access's work and mission.
Sure.
Thanks Georgie.
Inspire Access is a platform that allows individuals
to leverage philanthropic capital
and invest it in a for profit company, led by a woman or person of color
Well, we founded it based on two important issues. Number one,
Less than 3% of all investment capital flows to women and
minority leaders. Number two,
there's $200 billion sitting in donor advised funds in this
country today.
We realized if we can tap into that $200 billion, we could
finally start to close the investment gap in this country.
How does your investment model work in addressing the root causes?
Sure, the root causes really are socioeconomic structures that
stem from as early as the Jim Crow laws to the Homestead Act,
to the New Deal to the GI Bill.
As recently as 1988,
as a woman in this country, I would have needed a man to
cosign to get a corporate loan.
So policy matters.
Policy matters.
But what?
Let's focus on that 97% figure.
Why does that matter?
Why does it matter that only 3% of funding goes towards
underrepresented leaders?
Sure, sure.
Imagine that most great companies and solutions come out
of a lived experience.
So right now we are funneling, you know, 97% of our capital
into one demographic and one lived experience.
As a as a woman, I have a different experience than my
white male counterpart.
My Black women friends have different lived experiences than
I do.
And we're solving things differently and coming up with
more creative solutions in some cases.
So we're funneling all of our investment capital to one
perspective and one approach to solutions.
So the idea that we start funding the rest of the 75%
creates a lot of promise.
Patrice, thank you so much.
Thank you, Georgie.