Introduction
Established in 2018 as an initiative by Rachel Robasciotti and Maya Philipson, Adasina Social Capital is a wealth management and investment advisory firm owned by Black individuals and primarily managed by women, people of colour, and LGBTQ+ members. Since its founding, Adasina has focused on integrating individuals, financial assets, and educational programs to align investments with social justice principles. In 2020, the firm became an independent entity dedicated to connecting social justice movements with financial markets. “If you aren’t engaging the financial markets, you are simply missing a huge point of influence to create systemic change,” says Renee Morgan, the firm’s social justice strategist. “Certainly, public policy can also create systemic change, but so can capital markets. Also, the government and policy are vastly influenced by capital, so to not engage is missing a huge lever for change.” To access this lever, the firm aims to mobilize investors to withhold their capital from companies that perpetuate racial, gender, economic, and climate inequities, thereby promoting a more equitable and just financial ecosystem. As Morgan puts it, describing Adasina’s motivation, “We need change as quickly as possible and pushing all the levers is the most powerful way to get movement.”
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This case was written by Tanmay Padhye. The author prepared this case under the supervision of Professors Sarah Kaplan and Hyeun Lee.
The development of this case study was supported by the Latner GATE MBA Internships program.