Bold Ventures is not your typical advisory firm; it’s a catalyst for change in the world of philanthropy. Founded by Jessyca Dudley, this organization is on a mission to eliminate disparities through relationship, repair, and the redistribution of wealth.
With a profound commitment to reshaping the philanthropic landscape, Bold Ventures is pioneering a new approach to philanthropy that challenges the status quo and empowers individuals, families, foundations, and donor communities to create a more equitable world.
We caught up with Jessyca to explore the inspiration behind the establishment of Bold Ventures and how the organization is driving transformative change in the realm of giving.
What inspired you to establish Bold Ventures?
Having grown up in the vibrant city of Chicago, I’ve witnessed firsthand how philanthropy often falls short in embracing diverse communities and their lived experiences. My journey has led me to engage with philanthropy from both sides – as a seeker of funding and as a grantmaker. Throughout this experience, I’ve observed how the opaqueness of philanthropic practices tends to impede access to crucial funding for Black, Indigenous, and People of Color (BIPOC) communities.
Our commitment to challenging the conventional philanthropic model and empowering impactful leaders in the pursuit of racial equity stems directly from our personal encounters and interactions within the philanthropic sphere. We’re driven by a profound desire to witness a transformative shift within this sector.
We firmly believe that it’s imperative for more individuals to comprehend and actively participate in philanthropy to catalyze this much-needed change toward equity. Effecting this transformation requires unwavering dedication and courageous leadership from each one of us. It’s a call to action for us all to boldly reshape the system.
How does Bold Ventures support individuals and families in their efforts to address wealth disparities?
At Bold Ventures, we leverage our expertise and experience to cultivate confidence in the ability of wealth holders, business owners, and community leaders to influence the giving sector, challenge its current practices, and effect change. We work with our clients at all stages of the giving process to facilitate alignment between their impact goals and the values of racial justice, equity, and fairness. We believe that when values, relationships, and resources are strategically aligned, you are positioned to build a more just and equitable world — authentically.
With the COVID-19 pandemic and the nationwide uprisings resulting from the murders of George Floyd, Breonna Taylor and other innocent Black people in 2020, an increased awareness grew among leaders of the public, private, and philanthropic sectors of the need to confront the impact of their contributions to systemic racism; driving a resulting urgency to address the burden of historic divestment, underinvestment, and exclusion of BIPOC communities in their strategies.
At this moment, we worked alongside the Katz Amsterdam Foundation (KAF), as they sought to expand the focus of its giving to include racially equitable strategies. But, with limited staff capacity and at the beginning of their own racial equity journey KAF knew it needed external guidance. KAF identified Bold Ventures to help both family and foundation staff better understand the broad landscape of strategies for addressing racial inequities and to identify the most promising areas where its investments could make an impact.
Ultimately, family and staff were supported to align their passion for improving access to mental and behavioral health and their long standing commitment to civic engagement to create two new funding programs that center BIPOC communities.
What does “repair” mean in the context of Bold Ventures, and how does it play a role in your advisory work?
In the context of philanthropy, the concept of “repair” centers on the dedicated pursuit of rectifying historical and ongoing injustices or disparities inherent in philanthropic practices and their repercussions on communities. We firmly acknowledge the intrinsic worth of every individual and the sanctity of our connections, which serve as guiding principles that compel us to engage with utmost intentionality.
Our approach is characterized by openness, empathy, and a commitment to understanding the diverse needs and experiences of the communities we aim to support. In every interaction, we prioritize care, thoughtful consideration, and genuine compassion. It represents our dedication to fostering a philanthropic ecosystem that is not only more attuned and responsive but also fundamentally inclusive and equitable.
Our ultimate goal is to ensure that the positive impact of philanthropy extends to those who have historically been underserved or marginalized by its practices, thereby fostering a more just and inclusive society.
What can philanthropists do to be more effective?
Invest in building long-term relationships grounded in trust. Place confidence in the truth, ability, and insights of communities of color as they develop impactful solutions that address the disparities they endure.
What are some long-term goals and aspirations for Bold Ventures?
We envision a just world where BIPOC people and communities have the power of self-determination, the resources, and the autonomy to dream into life new ways of being that bring an end to extractive practices and create a society of belonging and inclusion for all.
Through our learning community, All Together Bold, and our relationships with our clients and partners we are aiming to build spaces in the social sector where individuals working towards racial, cultural, and financial equity can come together for learning, skills development, and candid conversations.
