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McKinsey Releases Guide to Impact Investing in Black Economic Mobility

(2/1/2023) Read the full report by Dylan Forgione, Nick Noel, Shelley Stewart III, and Ammanuel Zegeye.

A new report by the McKinsey Institute for Black Economic Mobility takes a dive into improving Black economic mobility through impact investing. Impact investing has grown as "a survey on ESG and impact investing found the majority of investors now consider ESG factors as part of their investment and portfolio management decisions."(McKinsey).

The guide lays out three primary obstacles that investors face in successfully investing in Black economic mobility:

  1. A gap between committed capital and needed capital

  2. A small number of Black-founded, -owned, and -led funds

  3. A lack of clearly identified impactful investable themes

Despite these obstacles, McKinsey points out the many areas with high potential for investments to increase Black mobility, from affordable housing and financial inclusion to business ownership and public infrastructure.


LISC Strategic Investments aims to support the growth of Black economic mobility through various racial wealth equity-focused financial vehicles, like the Black Economic Development Fund, the Entrepreneurs of Color Loan Fund, and the new Black Restaurant Fund.

LISC SI also supports increasing access to affordable housing through region-specific housing funds through the Detroit Housing for the Future Fund, Charlotte Housing Opportunity Fund, and Partnership for the Bay's Future Fund.

To learn more, visit our website at


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