Illumen Capital Raises $37.5M for First-time Managers “Catalyst Fund”

Bay Area impact fund-of-funds Illumen Capital said it has raised $37.5M for its Catalyst Fund, a vehicle designed to support first-time fund managers and entrepreneurs, especially those from underrepresented communities. 

Illumen said the fund will invest in “diverse-led funds and early-stage companies” and received backing from Health Forward Foundation, the California Wellness Foundation, and the Winthrop Rockefeller Foundation, among others. Catalyst is the firm’s latest fund following the $170M close of its Fund II in 2023.

Source: https://www.prnewswire.com/news-releases/illumen-capital-announces-32-75-million-catalyst-fund-to-strengthen-investment-in-first-time-fund-managers--entrepreneurs-from-underrepresented-backgrounds-302313074.html