Nashville’s Fisk University has announced an innovative endowment gift from Acrew Capital and its Co-Founder Theresia Gouw, which combines $1 million in cash with a $1 million interest in Acrew’s Diversify Capital Fund.
The latter is the largest ever venture capital fund with a diversity, equity and inclusion (DEI) focus. And, San Francisco-based Acrew Capital reported to Bloomberg in September 2021 that the $300 million invested in the DEI initiative brings the firm close to $1 billion under management. Founded in 2019 by former Aspect Ventures partners, Acrew Capital invests in financial technology, security, data and community-related businesses.
As noted in this news release, the “gift is the first of its kind at Fisk University and allows the institution to, for the first time, become an institutional investor in venture capital, an asset class that has traditionally been reserved for universities with much larger-sized endowments.”