Inside Melinda French Gates' Multi-Billion Dollar Bet on Women | Erin Harkless Moore

What does it actually take to change who controls capital — and who benefits from it? In this episode, Ebony sits down with Erin Harkless Moore, Managing Director of Investments at Pivotal, the group of organizations founded by Melinda French Gates to advance social progress for women and families. Erin leads Pivotal's fund and direct investment strategy, backing overlooked founders and next-generation fund managers in women's health, the care economy, and financial access. Erin's path to one of the most influential investment seats in the country wasn't linear — it was intentional. From growing up in San Antonio with a deep sense of service, to cold-emailing HBS alumni from endowments and family offices, to writing her professional purpose on an index card, to landing a role she describes as "too good to be true" — this is a conversation about what happens when preparation meets clarity of vision. They go deep on what it means to "reframe the bar, not lower it" in diligence, why women's sports is a contrarian bet worth taking, how Pivotal uses philanthropy, investment, and advocacy as a single system — and what Melinda French Gates' expanded women's health commitment means for the investment landscape right now. **In this episode:** - The "to whom much is given" values instilled in San Antonio that still drive her today - Why Goldman Sachs was a phenomenal training ground — and why it wasn't enough - The index card exercise that helped her crystallize her professional purpose - How she cold-emailed her way into HBS alumni networks at endowments and family offices - What Cambridge Associates taught her about contrarian investing and reframing the bar - How Pivotal uses three levers — philanthropy, advocacy, and investment — simultaneously - Why the care economy is a $648 billion opportunity hiding in plain sight - The case for women's sports as an undervalued, mission-aligned investment - What AI means for women's health and care — and why embedding diversity at the start matters - What success looks like for the ecosystem, not just the portfolio **Main Topics:** - Erin's early influences and foundational values rooted in community service and faith - The role of internal purpose and deliberate career planning (index card exercise) - How Pivotal integrates philanthropy, policy, and investment to drive social change - Reframing the investment bar while maintaining rigor in due diligence - Strategies to support overlooked fund managers and diverse founders - The growth of women's health investments, including midlife and menopause research - Opportunities and challenges in women's sports and AI from an investment perspective - Cross-sector collaboration in social impact initiatives - Vision for a more inclusive, diverse ecosystem of entrepreneurs and investors **Timestamps:** (00:00) - Introduction to principles of benevolence and shaping society through purpose-driven work (02:05) - Erin's childhood and core values influencing her career path (03:15) - Lessons from Goldman Sachs and the impact of early experiences (04:11) - How business school and Cambridge Associates shaped her investment philosophy (09:08) - Creating conditions for marginalized talent to access capital (09:27) - The power of internal clarity and strategic positioning for career growth (13:56) - Erin's journey to Pivotal and her vision for impact investing (14:18) - Pivotal's mission and its integrated approach to social change (16:01) - Evolution of Pivotal's investment thesis and strategies (19:01) - Maintaining rigorous due diligence with an impact lens (25:24) - Embracing risk and big swings in impact investments (29:12) - Development of Pivotal's direct investment strategy (33:37) - Advancing women's health and addressing key gaps (44:46) - Investing in women's sports and expanding impact areas (46:17) - The influence of diversity in AI development (48:09) - Envisioning success in building an inclusive ecosystem (49:29) - Closing thoughts and legacy for future generations **Resources & Links:** - Pivotal Ventures - Monarch Collective — Women's Sports Fund - Magnify Ventures — Care Economy Fund - Millie — Midwifery-Centered Maternal Health - Recast Capital — Emerging Manager Programming - Barron's 100 Most Influential Women in U.S. Finance - Rising Families at Ohai.ai **Connect with Erin Harkless Moore:** - LinkedIn **Connect with Ebony Brown:** - Instagram - LinkedIn - YouTube - principlesofbenevolence.com