More than 100 funds, representing an estimated $60 billion AUM, have invested in the creative economy over the past 5 years. These include conventional, socially responsible, and impact funds focused on ethical fashion, sustainable food, social impact media, other creative businesses and creative places.


Hiding in Plain Sight: Impact Investing in the Creative Economy looks at creative activity beyond the limits of art and culture and across traditional investment sectors. Using a creativity lens, Upstart Co-Lab has found that impact investing in the creative economy is strong and growing.

(Note: 1/3 of the funds reviewed invested in multiple categories which is why the total exceeds 100%.)

Key learnings include how the creative economy offers impact value, commercial viability and innovative edge; how a creativity lens correlates with diversity, equity, inclusion; and how a creativity lens is relevant in both developed and developing markets.

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Forbes: Upstart Co-Lab Aims To Create A $100 Million Portfolio Of Creative Economy Funds, Companies

The New York Times: A Push to Invest in the Arts Grows Stronger

Forbes: Amid This Year’s Struggle, New And Tougher Companies Are Born In The $900M Creative Economy

Monocle: Worthy Investment

Financial Times: Museums should lead in socially responsible investing

Pioneers Post: Global coalition explores ideas for new impact investment fund to back creative enterprises

ImpactAlpha: Building a personal portfolio of impact investments in the creative economy

Fast Company: Why Impact Investing Funds Need To Invest In Creativity

Stanford Social Innovation Review: Capital for Creativity

The New York Times: Investing in Creativity, and in the Greater Good

Real Leaders: The Innovator Connecting Impact Investing to The Creative Economy

Barron’s: Investing in the Creative Economy is a Boon to Artists and Communities

ImpactAlpha: Investments in the creative economy will help drive an inclusive COVID recovery

Real Leaders: The Power of Art, Design, Culture, Heritage and Creativity

The Art Newspaper: How museums can ethically invest their money

GenderSmart Investing: Is Impact Investing Repeating The Mistakes Of Investing? The Solution Is A Creative One

ImpactAlpha: Investment opportunities in expanding access and ownership in the creator economy

McKinsey & Company: How an alum is disrupting funding for creativity and culture