Erin Harkless Moore, a former investment advisor at Cambridge Associates, has joined Melinda French Gates’ Pivotal Ventures to drive the firm’s investment strategy. Pivotal Ventures, launched in 2015, is a venture fund and philanthropic organization that aims to support founders and nonprofits using grants, partnerships, advocacy strategies, and investing. With a commitment of $1 billion from French Gates, Pivotal Ventures focuses on positioning more women, especially women of color, in decision-making roles and investing in the care economy. The firm has already backed companies such as Ellevest, OndeCare, and Tia, and supports emerging funds to scale.
To gain insights into Pivotal Ventures’ long-term strategy, Harkless Moore discusses the firm’s goals, the role of data in social impact investing, and how technology can address gaps left by the government. Pivotal Ventures aims to bring together investments in fund managers, women-led funds, and diverse-led funds at the early stage to make a positive impact. The care economy, a $648 billion market, is a significant focus for the firm, as it believes innovation in this sector is necessary. Additionally, Pivotal Ventures serves as a limited partner in funds such as Magnify Ventures and Leadout Capital, offering support to help these emerging funds grow.
In summary, Erin Harkless Moore’s transition from a career on Wall Street to driving Pivotal Ventures’ investment strategy reflects her passion for combining investing in diverse-led funds with making a social impact. Pivotal Ventures, backed by Melinda French Gates, utilizes grants, partnerships, advocacy strategies, and investing to support founders and nonprofits. The firm’s focus on positioning more women, especially women of color, in decision-making roles and investing in the care economy highlights its commitment to creating positive change. With investments in companies like Ellevest, OndeCare, and Tia, as well as support for emerging funds, Pivotal Ventures is working towards its long-term goals of promoting gender equity and societal advancement.