Goldhirsh Foundation Names Groundbreaking All-Female Investment Committee

Rhea-AI Summary

The Goldhirsh Foundation announces an all-female investment committee, a first for an organization of its size. The committee members bring diverse experience from finance, real estate, food, and philanthropy sectors. The Foundation, with a $60 million endowment, has shifted to 100% mission-aligned investing. Female-inclusive investment committees have shown 27% higher value creation. The Foundation invests in funds and enterprises focusing on human potential and wellness.

Insights

Financial Analyst

With the appointment of an all-female investment committee by the Goldhirsh Foundation, we are observing a strategic pivot that emphasizes diversity and mission-aligned investment strategies. The financial world has seen increasing evidence that diverse investment committees can lead to enhanced decision-making and performance. The committee's diverse backgrounds from finance, real estate, food and philanthropy, coupled with their significant experience, suggest a holistic approach to investment that could see the Foundation's portfolio benefiting from a broad range of perspectives.

From a financial analysis standpoint, the committee's impact on the Foundation's $60 million endowment will be closely watched. The potential for improved portfolio performance is underscored by research, such as the HEC Paris study, which found that female-inclusive investment committees have outperformed their male-only counterparts. This could lead to increased investor confidence and a possible uptick in donations, further bolstering the Foundation's financial position and ability to drive systemic change through its investments.

Market Research Analyst

The introduction of this all-female investment committee at the Goldhirsh Foundation aligns with broader market trends towards diversity and inclusion. In the venture capital and private equity space, the presence of women in decision-making roles is gaining momentum, which is not just a social movement but also a response to market data indicating the financial benefits of diverse leadership. The committee's collective network and expertise could lead to the identification of unique investment opportunities, particularly in sectors where female leadership has been historically underrepresented.

Market research indicates that there is a growing appetite among investors for socially responsible and mission-driven investment opportunities. The Foundation's commitment to 100% mission-aligned investing since early 2023 could attract a new cohort of socially conscious investors, potentially influencing the broader market as other foundations and investment entities may follow suit, recognizing the value proposition of diversity and mission alignment.

Economist

The economic implications of the Goldhirsh Foundation's move to an all-female investment committee are multifaceted. By aligning investments with the Foundation's mission, there is an opportunity to drive economic growth in areas that may have been previously overlooked or underfunded, such as enterprises that maximize human potential and wellness. This can lead to a ripple effect of economic benefits, including job creation, innovation and community development.

Additionally, the committee's focus on equity, in terms of both investment returns and representation, may contribute to addressing gender disparities in the financial sector. With only 15.2% of check writers being women in the United States, the Foundation's decision could inspire other organizations to consider similar changes, potentially leading to a more balanced and equitable economic landscape.

Team includes C-level executives from industries including finance, real estate, food, and philanthropy

LOS ANGELES, March 14, 2024 /PRNewswire/ -- Today, the Goldhirsh Foundation announced its new all-female investment committee—believed to be the first such investment committee at an organization of its size and scope. The committee members are: Shana Barghouti, Natasha Case, Celestine Schnugg, and Ruth Wernig.

This new, all-female, investment committee is believed to be the first such at an organization of this size and scope.

The quartet of executives have experience at organizations such as ReMY Investors, Coolhaus Ice Cream, Boom Capital, and The California Endowment; they take over after 10 years of successful service by the prior committee.

"All four women on our new investment committee have proven themselves as business and civic leaders, as well as visionaries, during the course of their careers," said Tara Roth, President of the Goldhirsh Foundation. "This is a mission-aligned group that knows what a good investment looks like. I am honored that Shana, Natasha, Celestine, and Ruth have chosen to join our team, and I can't wait for us to get to work."

The Goldhirsh Foundation, which invests capital with innovative individuals, companies, funds, and organizations in order to make systemic change, has an endowment of approximately $60 million.

The new committee – with the experience, network, and expertise they bring – further solidifies a strategic shift for the Goldhirsh Foundation's endowment. For years, the Foundation has invested with purpose, and since early 2023, the organization's investing has become 100% mission-aligned.

The increased presence of women on investment committees has been shown to boost equity—in both meanings of the word. According to a 2019 study from HEC Paris business school, female-inclusive investment committees in private equity have outperformed male-only teams and are 27% more likely to have exhibited substantial value creation. Meanwhile, data from All Raise shows that in the United States, only 15.2% of check writers are women.

The Goldhirsh Foundation has invested in funds that seek to maximize human potential and wellness. Current funds include but are not limited to: Collaborative Fund, Lowercarbon Capital, M13, Obvious Ventures, Clean Industry Ventures (CIV), Willow Growth Partners, Core Innovation Capital, Slauson & Co, 2045 Ventures, New Mountain Capital, Boom Capital, and Tubbs Ventures. The Foundation also invests directly in enterprises including but not limited to: Sonera, Sanmai Technologies, Encantos Media, NationBuilder, Everytable, Bookshop.org, Good Mvmt, Climate Candy, and Optimist Drinks.

Meet the members of the Goldhirsh Foundation investment committee:

Shana Barghouti, Co-Chief Investment Officer at ReMY Investors, a multi-family investment firm based in Los Angeles. Prior to ReMY, Shana was a partner at Angeles Investment Advisors, where she managed the investment portfolios of several endowments, foundations and other non-profit organizations. Previously, Shana worked for Wilshire Associates, serving governmental pension funds. Before her career in finance, Shana was an advertising copywriter at BBDO and Saatchi & Saatchi. Shana holds an MBA from UCLA and an AB in Philosophy from Harvard, where she was captain of the varsity women's lacrosse team. She serves on the Board of the Griffith Observatory Foundation and on the Regional Advisory Council for KPCC/LAist. She lives in Los Angeles with her two sons.

Natasha Case, Co-Founder and was the CEO of Coolhaus Ice Cream until its successful acquisition in 2021. Natasha co-founded Future Gin, the first all-queer and women-owned spirit in the US and is now the Founder and CEO of Lunch Bunch enrichments + nutritious food for schools. She became a Commissioner of Cultural Affairs for the City of LA in 2023 and joined the Victory Campaign Board in 2024. Natasha serves on the board of UCLA School of Arts & Architecture, Larchmont Charter School, Startup UCLA, and has served as a judge for Chopped, Top Chef Jr, Alex vs America, the Sam Adams Brewing the American Dream, Ad Age Awards, and Harvard-Westlake Venture Club/Inc. In 2019, she joined YPO (Beverly Hills chapter). Natasha has been named a Forbes 30 Under 30, Zagat 30 Under 30, LinkedIn 10 under 35, 10 Most Successful Women in Business by Leaders Globe, and UCLA's LGBTQ+ 2019 Alum of the Year. She is a published author of the Coolhaus Ice Cream Book (2014) and was the co-host and executive producer of 'Start to Sale' podcast (Eater/Vox Media).

Celestine Schnugg, Founding Managing Partner of Boom Capital, an early stage venture capital fund. She is recognized as the first investor in Mammoth Biosciences, and early investor in Swarm (SpaceX), Astra (NASDAQ: ASTR), and Planet Labs (NYSE: PL). In addition to being the first check for frontier tech, Celestine convenes a scientific society. Prior to starting Boom, Celestine worked at Eric Schmidt's Innovation Endeavors and Apple.

Ruth Wernig, former Chief Investment Officer of The California Endowment. The California Endowment is a private health foundation established in 1996 to expand access to affordable, quality health care for underserved individuals and communities. As CIO, she was responsible for a $3.5 billion endowment. She helped diversify the portfolio of investment managers to include person-of-color led investment firms. She helped steward TCE's venture into mission and impact investing, all while improving the overall performance of the portfolio. She retired in June of 2021. Previously, Ruth was Treasurer of the University of Southern California from 2004-2010. She was responsible for overseeing the investment management of the university's endowment, working capital, pension and life income assets of $3.5B. Ruth has her undergraduate degree from Brown University and an MBA from Boston University. She is a CFA. She sits on the Board of St. Joseph Center in Venice and chairs the Finance Committee.

About the Goldhirsh Foundation

At the Goldhirsh Foundation, (www.goldhirshfoundation.org), we connect the dots between the best emerging innovations and the financial, social, and human capital to make them thrive.

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SOURCE Goldhirsh Foundation

FAQ

Who are the members of the Goldhirsh Foundation investment committee?

The members are Shana Barghouti, Natasha Case, Celestine Schnugg, and Ruth Wernig.

What is the endowment of the Goldhirsh Foundation?

The Goldhirsh Foundation has an endowment of approximately $60 million.

What is the strategic shift for the Goldhirsh Foundation's endowment?

The new all-female investment committee further solidifies the Foundation's shift to 100% mission-aligned investing.

What is the impact of female-inclusive investment committees according to research?

Female-inclusive investment committees have shown to outperform male-only teams and are 27% more likely to exhibit substantial value creation.

What sectors do the Goldhirsh Foundation invest in?

The Foundation invests in funds and enterprises focusing on maximizing human potential and wellness.