Intro to the series:

The purpose of this series is to highlight programs/investors to improve diversity within the PE/VC space at all stages of a VC’s career ranging from support when starting their own fund to support at the start of their careers. This part is focused on resources for BIPOC/Veteran/Disabled/Immigrant/Returning Citizens. Part 1 was focused on resources for emerging managers, Part 2 was focused on females. I am having to cut Part 3 into three sections, so entrepreneurs, and Aspiring VCs have their own section. Part 4 (this is also going to be cut into pieces) will be my commentary and observations on the state of diversity in the VC/PE space and where the community as a whole can improve.


Goal of this article is to highlight numerous resources for Black/Latinx/Indigenous/Veteran/Disabled/Immigrant/Age-specific aspiring GPs. The intention of this post is to highlight LPs/LP programs geared towards creating a pipeline of diverse GPs.

Resources for Underrepresented aspiring GPs:

Semi-confirmed investors into Diverse managers:

Crewcial Partners: These guys know what they are doing, read their diverse manager report here.

Disciplina: read their Diversity in Asset Management report for more details.

Prudential Financial is allocating $200M to underserved GPs.

Prime Buchholz: act as an outsourced CIO. See their report on diversity. Unclear how to followup with them regarding investment.

Hamilton Lane invests into diverse VC funds. See round panel for more information with their MD Andrea Kramer .

Barings: See round panel for more information with their Co-Head of Funds & Co-Investments Mina Pacheco Nazemi.

Metlife: See round panel for more information with Agata Rzamek Praczuk Director of Alternative Investments.

Zurich Alternatives: See round panel for more information with their ex-director Clara Koh.

Screendoor: Invests between $500K-$5M seeking to be 10% of the total LP allocation to the fund.

50 South Capital (Source ILPA): Published an entire DEI PDF discussing some of the initiatives they are involved with.

Annie E. Casey Foundation (Source ILPA): See financial statements.

BDC Capital: Find list of investments into VC funds here.

Chicago Teachers Pension Fund: see portfolio into VC here.

Church Pension Group: Invests into Private equity firms (including VC).

CRPTF’s CIT3 program: opportunity for minority managers to get allocation from Connecticut’s Pension fund.

CPP (Source ILPA): currently invest $368M in VC. See annual report for more details.

HarbourVest Horizon: $1.9B in commitments to diverse and emerging managers.

ILGIF (Focused on Illinois based VCs): $430M towards VC funds based in Illinois including: Moderne Ventures, Brightwood Capital, Agent Capital, Chingona Ventures, Palladium Equity Partners, Vamos Ventures, Builders VC, Impact Engine, Vistria Group, amongst others.

Invesco: Note you have to click the bottom option to access the link.

Investure (Source ILPA): send an email to their manager selection email.

MacArthur Foundation: Their manager selection process in detail + who to contact.

Lexington Partners (Source ILPA): They go over their investment contacts here.

Knight Foundation: over 33% of their endowment is managed by diverse managers.

Investment Division of the Maryland State Retirement & Pension System (Source ILPA): Submit your information here. Also check out the Terra Maria Program.

Marguerite Casey Foundation (Canada Focused) : Investors into Authentic Ventures and Vamos Ventures.

Portfolio Advisors LLC: Detailed investment approach here.

Upwelling Capital Group: provides capital to premier fund managers.

WK Kellogg Foundation: Published a report on racial equity. Have 58% allocation to Private Equity/VC.

Mesirow: Have been investing in Private Equity for several decades now. See their approach to Private equity investments here.

Unconfirmed investors or other pro-diversity organizations into Diverse managers:

Adams Street Partners (Source ILPA): Have a Diversity mandate here. Note, their partner organizations are “ event sponsorship, conference participation, mentoring programs, student networking opportunities, and educational symposiums.”, thus it is difficult to confirm that they allocate to minority VCs.

Aksia (Source ILPA) : Private Equity Consultant (PEC)for a number of pension funds. See Stepstone’s recommendation of Insight Partners for an understanding of how these PEC’s make their recommendations to clients.

Albourne (Source ILPA): Private Equity Consultant for pension funds such as Teacher Retirement System of Texas. See Stepstone’s recommendation of Insight Partners for an understanding of how these PEC’s make their recommendations to clients.

Andra AP-Fonden (Source ILPA): Swedish Pension Fund, note diversity will have a different definition, given they invest with a European context. ILPA Signatory.

Kresge Foundation (Source ILPA): They have an investment practice, but don’t seem to have a direct link for getting in touch with relevant parties.

LGT Capital Partners (Source ILPA): are signatories to ILPA’s Diversity in Action.

Pathway Capital Management (Source ILPA): they invest in primaries. No details given on how to reach out to investment team. Signed the ILPA’s Diversity in Action.

PGGM (source ILPA): ILPA signatories. Full list of funds they are invested into. Some investments are done via AlpInvest.

PineBridge Investments: Uncertain if they invest in VC funds, or solely private equity funds. More details can be found here.



Muieen Cader

I write about Venture Capital. Previous VC experience with Betatron. Advisor to startups (across the globe) and sailor.