Lisa Murray

Ewing Marion Kauffman Foundation

The Ewing Marion Kauffman Foundation understands that the solution to the education, health and wealth gaps in the US have a lot do with lack of access to capital for people of color and their communities. According to the Midwest foundation, “capital decision-makers need to be knowledgeable about the history and root causes of the country’s racial wealth gaps. And, we need to explore new ways of investing in fund managers of color.” The foundation puts its money behind its research. In partnership with Living Cities, Kauffman collaborated on an impact investing fund that invests in fund managers of color. The fund provides Black, Indigenous, and People of Color (BIPOC) fund managers access to capital as well as technical supports to promote success. It further enables emerging BIPOC fund managers to establish a track record, gain credibility and be positioned for future rounds of funding. This will, in turn, create a virtuous cycle of funding for BIPOC fund managers who can then fund underrepresented founders who are themselves BIPOC. The foundation also launched the Capital Access Lab that was designed to provide risk capital to new investment models that do not resemble traditional venture capital or lending. The goal was the formation of new financing vehicles that also increase capital investment to underserved entrepreneurs who have been historically left behind due to their race, ethnicity, gender, socioeconomic class, and/or geographic location. Many of the creative solutions developed by the foundation come from Lisa Murray, the Chief Investment Officer, and her investment team. She leads the team that oversees the Kauffman Foundation’s globally diversified $2 billion portfolio. Previously, Murray was the Managing Director in Investments. Prior to joining the Kauffman Foundation, Murray was an investment consultant for Angeles Investment Advisors, where she worked with foundations and endowments, advising on all aspects of their investment programs. She is an industry authority and advocate for equity and diversity. She serves on the Milken Institutes Diversity Council and is a committed advocate for equity, diversity and fair access to capital.