# Illumen Capital

> Illumen Capital is an Oakland-based impact investment manager that backs venture, growth and private equity funds and supports their managers with research-informed bias-reduction tools and coaching. Its proprietary IllumenIQ platform addresses hiring, investing and portfolio support. Its Catalyst strategy also makes direct co-investments in early-stage businesses.

- **Founded:** 2016
- **Headquarters:** Oakland, United States
- **Founders:** Daryn Dodson (Founder and Managing Director)
- **Products:** Flagship funds of funds, IllumenIQ, Illumen Catalyst Fund, Impact measurement and manager support
- **Notable:** Co-authored peer-reviewed research published in PNAS in 2019., Fund II closed above its $150 million initial target at $168 million in 2023., Reported $210 million committed across 33 unique funds as of December 31, 2023.

## Products & services

- **Flagship funds of funds** — Institutional pooled investment vehicles backing venture, growth and private equity managers across impact themes. Fund II closed at $168 million.
- **IllumenIQ** — Proprietary web-based educational platform with tools and strategies supporting inclusive hiring, investment decisions and portfolio company support, paired with manager coaching.
- **Illumen Catalyst Fund** — $32.75 million vehicle announced for first-time fund managers and early-stage companies; introduced direct investments into the broader strategy.
- **Impact measurement and manager support** — Portfolio surveys, reporting, customized coaching and cohort learning intended to help managers put bias-reduction practices into use.

## Achievements

- Co-authored peer-reviewed research published in PNAS in 2019.
- Fund II closed above its $150 million initial target at $168 million in 2023.
- Reported $210 million committed across 33 unique funds as of December 31, 2023.
- Announced the $32.75 million Catalyst Fund in November 2024.
- NAIC reported more than 40 fund investments in February 2026.

## Latest updates

- **2026-10** — LP Allocator reported at least $27.5 million raised from nine investors toward a $200 million Fund III target; this was an interim filing-based amount.
- **2026-02** — NAIC profiled Illumen’s standardized manager intake and reported more than 40 underlying fund investments.
- **2025-06** — WorkWhile announced a $23 million Series B with Illumen Capital among the participants; Illumen’s individual check size was not disclosed.
- **2024-11** — Illumen announced the $32.75 million Catalyst Fund.
- **2024-07** — Published an impact-report announcement presenting 2023 portfolio and survey findings.

## Links

- Website: https://www.illumencapital.com/
- LinkedIn: https://www.linkedin.com/company/illumen-capital/
- Twitter/X: https://twitter.com/IllumenCapital

---

Profile page: https://yespress.io/illumen-capital
Published by YesPress — https://yespress.io
Last updated: 2026-10-27