THE STATE OF THE EFFECT
SUMMIT 2025
NEW YORK, NY • OCTOBER 21
THIS YEAR’S THEME
THE SHIFT
Infrastructure, Intelligence & the Future of Growth
Every year, we step back to ask one question: what is the state of the effect? It’s how we take stock of the forces reshaping our world and what they mean for how we build, lead, and grow.
In 2023, we explored systems change.
In 2024, we turned to implementation.
And now, in 2025, we’ve reached The Shift, the moment when exponential technology stops being a theory and starts remaking the landscape in real time. It’s an era of exponential solutions: breakthroughs once out of reach are becoming reality.
But possibility alone isn’t enough. While technology accelerates, the human frameworks around it still lag behind. If we don’t evolve how we organize, decide, and collaborate, we’ll leave enormous value untapped and risk being swept under by the very forces meant to carry us forward.
We are gathering over 150 entrepreneurs, investors, and cross-sector leaders to learn from each other, strengthen the networks that shape innovation, and reimagine the human systems that guide it.
Because facing this kind of shift, none of us can go it alone. Technology is moving faster than any one company, sector, or leader. The future will be built through collaboration, by connecting perspectives, sharing context, and seeing the bigger picture together.
Select participants will also be invited to join VIP Thought Leadership Discussions exploring five critical domains shaping the future; climate, health, finance, security, and AI. Each conversation will surface insights on how to thrive and stay grounded amid the coming wave of change.
Framing the Shift
The Coming Wave by Mustafa Suleyman challenged us to think about how humanity can walk the narrow path between chaos and control. At The Fourth Effect, we’re building part of that path — the governance and advisory infrastructure that helps innovation stay aligned with human values and long-term resilience.
Suleyman’s idea of “the containment problem” — how we adapt our human, legal, and social systems fast enough to keep pace with accelerating intelligence — mirrors the challenge we explore this year: how governance, innovation, and infrastructure must evolve together if growth is to remain sustainable, ethical, and inclusive.
The Summit’s theme, The Shift, invites us to explore that challenge directly — to stay grounded amid the coming wave and help shape what rises next.
ON THE MAIN STAGE
The Resilience Equation: Finding Balance in the Coming Wave
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Ana Moro
HEAD OF SUSTAINABILITY & COMMODITY SPECIALISTS, AMERICAS, BLOOMBERG
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Breen Sullivan
FOUNDER & CEO, THE FOURTH EFFECT
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Ellen Itskovitz
INVESTMENT TEAM, THE CATALYTIC IMPACT FOUNDATION
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Eric Solomon
FOUNDER, STRATEGIC ADVISOR, SPEAKER, THE HUMAN OS™
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Kat de Haën
CO-FOUNDER, THE FOURTH EFFECT
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Lawrence Krubner
INTERIM CTO, THE FOURTH EFFECT
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Maggie D. Flores
KIRKLAND & ELLIS PARTNER / MERGERS & ACQUISITIONS / PRIVATE EQUITY
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Quan Myles Boatman
PRESIDENT & CEO, MYLESEDGE CONSULTING; FORMER FEDERAL SENIOR EXECUTIVE SERVICE
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Tanya Kaul
SR. DIRECTOR - FINANCIAL SERVICES INDUSTRY, MICROSOFT
Our VIP Room Thought Leadership Speakers
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Andrea Schmitz
PARTNER, KNICKERBOCKER FINANCIAL GROUP
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Anna Tavis
DEPARTMENT CHAIR, HUMAN CAPITAL MANAGEMENT, NYU
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Beth Cartier
PRINCIPAL, DIGITAL RISKS, AMERICAS, CONTROL RISKS
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Cari Robinson
SENIOR MANAGING DIRECTOR, AUGUST
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Carrie Jaquith
GLOBAL HEAD OF DIGITAL PRODUCT, ABAXX TECH
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Christina Trampota
CHIEF PRODUCT OFFICER, INNOVATE GROW SCALE
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David Tswamuno
FOUNDER, FAIRBRIDGE VC
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Katherine Mogg
MANAGING DIRECTOR, US GENERAL COUNSEL, FORTESCUE CAPITAL
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Kathy Leake
FOUNDER & BOARD MEMBER
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Kristen Castell
MANAGING DIRECTOR, CENTER FOR ACCELERATING FINANCIAL EQUITY
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Komal Bajaj
CHIEF QUALITY OFFICER & MEDICAL DIRECTOR OF SUSTAINABILITY
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Lata Setty
FOUNDING INVESTOR, DUE DILI TEAM & LP ADVISORY COMMITTEE, HOW WOMEN INVEST FUNDS I, II & III
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Laura A. Sullivan
KIRKLAND & ELLIS PARTNER / MERGERS & ACQUISITIONS / PRIVATE EQUITY
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Laura Kornhauser
CEO AND CO-FOUNDER, STRATYFY
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Lisa Nelson
MANAGING DIRECTOR, FAMILY OFFICE SERVICES, WEALTHING VC CLUB
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Maggie D. Flores
KIRKLAND & ELLIS PARTNER / MERGERS & ACQUISITIONS / PRIVATE EQUITY
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Marthe Haverkamp
INDEPENDENT CONSULTANT
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Mary Beth Houlihan
KIRKLAND & ELLIS PARTNER / SUSTAINABILITY
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Melindah Sharma
MANAGING DIRECTOR, LIFE SCIENCES, MANATT HEALTH
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Parth Shah
PRINCIPAL, PEGASUS CAPITAL ADVISORS
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Sarah Sandford Broderick
FOUNDER & CEO, THE FEAT
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Shellie Weisfield Freedman
KIRKLAND & ELLIS PARTNER / TECHNOLOGY & IP TRANSACTIONS
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Stephanie Benedetto
CEO OF ALOQIA
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Tanaz Parmar Pilla
CHIEF INNOVATION & GROWTH OFFICER, FOUNDER, ZAYA ADVISORY
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Tim Schnurr
MANAGING PARTNER, LEASTTRUST
PITCH SHOWCASE
FEATURED STARTUPS
Marissa Fayer
CHIEF EXECUTIVE OFFICER, DEEPLOOK MEDICAL
To bring clarity to healthcare providers and confidence to patients.
Moiz Shirazi
FOUNDER & CEO, SCOREALYTICS, INC.
Intuitively identify and manage global legal risks with the power of data.
Souha Alameddine
CO-FOUNDER, GAIA SOFTWARE, INC.
Modernizing school nutrition.
MEET OUR VIP JUDGES
Ryan Keating
PARTNER, EISNER ADVISORY GROUP, EISNERAMPER
Jeanne Sullivan
INVESTOR, SPEAKER, ADVISOR
Master of Ceremonies
Andy Walsh
STRATEGIC ADVISOR & FOUNDER
Last Year’s Winner
Melissa Wallace
CO-FOUNDER, FIERCE FOUNDRY
Our Femtech Venture Studio builds female-founded startups from idea to exit to impact the future of funding for women.
VIP BREAKOUT ROOMS
CLIMATE CAPITALISM
INVESTING IN THE PLANETARY SHIFT
Explore how resilience in the climate economy is reshaping capital, innovation, and infrastructure, and what’s truly working at ground level.
Speakers:
Kirkland Partner - Mary Beth Houlihan
TRUST, THREATS & TRANSFORMATION
BUILDING RESILIENT SYSTEMS
Examine how transparency, governance, and culture evolve to sustain trust and stability in a digital-first world.
Speakers:
Kirkland Partner - Laura Sullivan
INTELLIGENCE AT SCALE
BUILDING ADAPTIVE AI GOVERNANCE
Explore how to scale intelligence without losing human judgment, ethics, or accountability.
Speakers:
Kirkland Partner - Shellie Freedman
CARE AS CAPITAL
THE NEW ECONOMICS OF WOMEN’S HEALTH
Explore how advances in biotech, data, and workforce design redefine well-being as a driver of organizational and systemic resilience.
Speakers:
CAPITAL, CODE & CONTROL
THE FUTURE OF FINANCIAL POWER
Examine how the convergence of finance and technology is reshaping control, inclusion, and resilience in financial systems.
Speakers:
Kirkland Partner - Maggie Flores
THANK YOU TO OUR
VIP Partner & Host
Impact Partner
Headshots by
Wines by
Past Summits
THE STATE OF THE EFFECT
NEW YORK, NY
SUMMIT 2024
EQUITY IN ACTION
CONNECTING THE DOTS BETWEEN OWNING ‘EQUITY’ AND CREATING ‘EQUITY’
This year, our Summit focused on identifying barriers to progress in Climate, Health, and Future of Work and how building diverse leadership pipelines, creating opportunities for equity ownership, and leveraging technology, education, and AI can help break these barriers and create equity.
In our keynote conversation with the Education GTM lead at OpenAI, we explored the transformative potential of AI to break down barriers and create equity in healthcare, climate, governance, education, and the future of work.
Inspiring this Summit was the belief that building diverse leadership pipelines and creating opportunities for equity ownership today is an important part of paving the way for equitable solutions that will unlock real progress tomorrow. In order for technology, education and AI to be effective accelerants, we can't afford to leave so much human capital on the table!
By asking ourselves ‘what can we do today as business leaders, investors and entrepreneurs to create equity tomorrow?’ we uncovered how we can make these ideas actionable in Climate Tech, Health Equity, and the Future of Work. This is the systemic change we need, and it starts now.
THE STATE OF THE EFFECT
WHAT WE SHARED AT THE SUMMIT
In one year, our growth and our impact have doubled! We’re now in over 40 countries, 450 cities, with more than 15,000 members. We’ve made over 270,000 recommendations, matched 2,000+ members to board and investment opportunities, and connected more than 600 startups with advisors and investors. This matters because behind each number is a story of transformation and equity creation. The future of leadership and ownership depends on who is at the table today.
HIGHLIGHTS
Opening Remarks from Mary Beth Houlihan, ESG & Impact Partner at Kirkland & Ellis
The Fourth Effect Keynote: Breen Sullivan, Founder
Popcorn Fireside with Anna A. Tavis, PhD, Department Chair, Human Capital, NYU, Candice Hunter Corby, CEO at Hidden Star Capital, Komel Caruso, Co-founder & COO, HerMD, and William Provine, CEO, Innovation Space.
Rupal Patel, 2x Founder & CEO, Best-Selling Author
Keynote Siya Raj Purohit, Education GTM Lead at OpenAI
Pitch Competition included - Startups: Azul Bio (WINNER), Maera, The MetaPause, Masters of Ceremony: Crystelle Desnoyer and judges: Helena Wasserman, Silvia Garcia Codony, and Zac Geinzer.
Climate, Health Equity and Future of Work VIP Breakout Rooms
Our breakout rooms and pitch competition centered around three key areas essential for our collective success: the well-being of our planet, our health, and our productivity. Paving the way for equitable solutions in climate, health and Future of Work will guide us toward a brighter future.
ACCESS RECORDING
STATE OF THE EFFECT SPEAKERS
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Anna A. Tavis
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Candice Hunter Corby
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Crystelle Desnoyer
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Erica Duignan
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Eunice Bet-Mansour
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Fernando Montejo
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Guillemette Chamayou
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Helena Wasserman
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Komel Caruso
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Marion Siboni
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Mary Beth Houlihan
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Melanie Schnoll Begun
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Rosie O'Meara
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Shelby Thompson
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Shellie Weisfield Freedman
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Silvia Garcia Codony
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Siya Raj Purohit
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Soner Haci
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William Provine
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Zac Geinzer
LEARN MORE
ABOUT THE SPEAKERS
MAIN STAGE
Anna A. Tavis, PhD, Department Chair, Human Capital, NYU
Candice Hunter Corby, CEO at Hidden Star Capital
Komel Caruso, Co-founder & COO, HerMD
Rupal Patel, 2x Founder & CEO, Best-Selling Author
Siya Raj Purohit, Education at OpenAI
William Provine, CEO, Innovation Space
PITCH COMPETITION JUDGES
Crystelle Desnoyer - Masters of Ceremony, Chief of Staff, Kyndrl
Helena Wasserman - Investors for Climate
Silvia Garcia Codony - NY Ventures, Empire State Development (Health)
Zac Geinzer - Commonweal Ventures (Future of Work)
VIP BREAKOUT ROOMS
1
CLIMATE
BREAKING BARRIERS TO A SUSTAINABLE AND EQUITABLE FUTURE
This session will focused on the real-world barriers to deploying climate tech solutions that advance both environmental sustainability and social equity. Industry leaders and innovators will identify specific, tangible challenges they’ve encountered within their organizations or industries and extrapolate them to broader systemic issues. The final portion focused on brainstorming actionable steps we can take today to dismantle these barriers and drive climate innovation forward.
Speakers:
Kirkland Partner - Mary Beth Houlihan
BREAKING BARRIERS FOR EQUITABLE HEALTHCARE FOR ALL
HEALTH EQUITY
2
This session focused on the real-world barriers that prevent advancements in life sciences, healthcare, and well-being from reaching the populations that need them most. Speakers will share tangible challenges from their industries and extrapolate them to broader systemic issues. The final portion concentrated on brainstorming actionable steps to overcome these barriers and foster equitable access to healthcare innovation.
Speakers:
Kirkland Partner - Shellie Freedman
3
FUTURE OF WORK
REIMAGINING SYSTEMS
This session dove into the evolving nature of work, governance, and global operating systems. Participants explored the structural challenges preventing equitable work environments and inclusive governance, while brainstorming ways to reshape operating systems to promote global equity and empowerment.
Speakers:
Kirkland Partner - Guillemette Chamayou
THE CURRENCY OF INCLUSION:
CONNECTING THE DOTS BETWEEN POWER, MONEY, AND EQUITY
We walked in The Fourth Floor and walked out The Fourth Effect!
We were thrilled to celebrate our rebrand as well as announce the launch of our UNSTOPPABLE campaign to our attendees of over 150 change makers and leaders.
Thank you to all of our amazing speakers who drove home the point that a systems change is necessary and that Diversity & Inclusion is essential and profitable. Equity in the investment and innovation ecosystem will create better products, better companies and more pie for all.
ACCESS RECORDING
THANK YOU TO OUR
VIP Sponsor
Highlights
Opening Remarks from Ariel Giumarelli and Christine Okike, Partners at Kirkland & Ellis.
Panel discussion on the Importance of DE&I, in leadership and investment, and economic power of diversity. Panelists include Kathy Gardner & Cherae Robinson. Moderated by Karen Sunderam.
A conversation with Ruth Shaber about her book, The XX Edge, co-authored by Patience Marime-Ball with an introduction from Linda Davis Taylor.
Connecting the dots for the economic case for diversity. Speakers include Matt Moscardi, Rich Taylor, Cat (Hernandez) Middleton, Mina Black & Cate Luzio.
Announcements from our own Breen Sullivan on the power of Board Seats and a spotlight on Cheryl Kellond, co-founder of Play Money.
Speakers
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Ariel Giumarelli
PARTNER, ESG & IMPACT, KIRKLAND & ELLIS
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Cat (Hernandez) Middleton
GENERAL PARTNER, THE VENTURE COLLECTIVE
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Cate Luzio
FOUNDER AND CEO, LUMINARY
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Cherae Robinson
HEAD OF COMMUNITY, FLYBRIDGE
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Cheryl Kellond
CO-FOUNDER, PLAY MONEY STUDIOS
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Christine Okike
PARTNER, RESTRUCTURING, KIRKLAND & ELLIS
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Karen Sunderam
INVESTMENT STRATEGIST, IMPACTASSETS
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Kathy Gardner
VP, HEAD OF PEOPLE OPERATIONS, PALLADIUM
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Linda Davis Taylor
GOVERNANCE CHAIR, MORNINGSTAR FUNDS TRUST
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Matt Moscardi
HEAD OF BOARD MONEYBALL, FREE FLOAT
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Mina Black
FOUNDER, THE RAINMAKERS COLLECTIVE
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Rich Taylor
SENIOR VICE PRESIDENT, PEOPLE EXPERIENCE & DIVERSITY, NASDAQ
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Ruth Shaber
PRESIDENT AND FOUNDER, TARA HEALTH FOUNDATION
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