New Growth Innovation Network selected by the Catalytic Capital Consortium Grantmaking program
The Catalytic Capital Consortium (C3) announced today that New Growth Innovation Network (NGIN) has received an award under its “Strengthening the Evidence Base” grant program. C3 is an initiative created and led by the John D. and Catherine T. MacArthur Foundation, The Rockefeller Foundation and the Omidyar Network. Together, these partners jointly fund the C3 Grantmaking program, which is housed at and administered the New Venture Fund (NVF).
With this award, NGIN and project advisors Erika Seth Davies and Lyneir Richardson, will synthesize evidence on the ways that catalytic capital has supported wealth creation for Black, Indigenous and People of Color (BIPOC), and will identify additional opportunities to use catalytic capital to help dismantle the racial wealth gap and advance an inclusive economic recovery from Covid-19.
New Growth Innovation Network focuses on inclusive economic growth and closing structural opportunity gaps, to ensure that people of color, women and neglected geographies are a core part of regional economic growth and prosperity. NGIN’s work has highlighted how persistent and significant racial wealth gaps hinder inclusive economic growth and that the recovery from Covid-19 is a critical moment to rebuild a more equitable economy and tear down systemic economic discrimination.
“NGIN was founded to advance inclusive economic growth and we are delighted to have the support from C3 and partner with Erika and Lyneir on catalytic capital to advance BIPOC wealth creation,” said NGIN CEO M. Yasmina McCarty.