Investor profile
Ewing Marion Kauffman Foundation
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Analyse your fitInvestment thesis
The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation with ~$2.7 billion in assets dedicated to advancing entrepreneurship and education as pathways to equitable economic mobility. Its investment strategy — shaped by its landmark 2012 report 'We Have Met the Enemy… and He Is Us' — calls for investing in VC funds under $400 million with consistently high public market equivalent (PME) performance, making direct investments in startups without the burden of high fees and carry, co-investing in later-round deals alongside seasoned investors, and deploying capital toward underserved and BIPOC-led entrepreneurs. The Foundation manages a globally diversified endowment portfolio spanning equities, private equity, hedge funds, and real assets, with grantmaking and investment activity focused on college access and completion, workforce and career development, and entrepreneurship — particularly in Kansas City and nationally.
Notable quotes
“The power of entrepreneurship is putting in the hands of the individual person the power to control their future differently. That is an entrepreneurial spirit. That is the spirit of Ewing Marion Kauffman and this Foundation.”
“Too many LPs invest too much capital in underperforming VC funds and on misaligned terms. The LP investment model is broken.”
“Working in the investment portfolio, you have a team and the market gives you your score on a daily basis. It's definitely a competitive, team-oriented job and I love the idea that the better we perform, the more money goes out in the community through our grantees.”
Team
DeAngela Burns-Wallace
President and CEO
Lisa Murray
Chief Investment Officer (CFA)
Diane Mulcahy
Private Equity Adviser, Investments (former)
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| Living Cities Catalyst Fund III | LP Commitment / Anchor Investment | $100m | 2022-05-01 |
| Techstars | Program Sponsorship / LP | — | — |
| Kauffman Fellows Program | Program Investment | — | 1993-01-01 |
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