Ila Corcoran is Expanding Access to Capital Through Community-Driven Innovation.
Ila Corcoran’s entrepreneurial journey began with a personal need for stable housing and a deep commitment to building more inclusive systems of support. Since 2018, she has overseen more than $100 million in real estate transactions across the United States, earning recognition as a skilled investor, advisor, and asset manager with deep expertise in market-responsive strategies and alternative financing models.
In 2023, Ila launched Sengo, a financial services platform designed to expand ownership opportunities in private markets. With a focus on collaborative engagement and fairness in access, Sengo empowers emerging talent pools—including founders and first-time funders—by creating spaces that spark meaningful connections and resource sharing. Through thoughtfully curated events and a future-forward approach to financial access, Ila is helping reshape how capital flows and who benefits from it.
In this interview, Ila shares insights on what it means to lead with purpose, build with adaptability, and create new models that activate untapped potential. Whether you’re seeking insight into founder funding strategies, real estate investing, or next-generation business models, her story is a powerful example of innovation grounded in community and impact.
What does “entrepreneurship” mean to you? How has your understanding of it evolved over time?
Ila Corcoran: Over time, my understanding of entrepreneurship has evolved from simply “starting something of my own” to disrupting systems that don’t work for everyone. I think people often conflate entrepreneurship with wealth, freedom, and control. While running your own business can bring you those things, it ultimately depends on how you balance discipline, flexibility, and sacrifice. Sometimes you can have even more wealth and freedom in traditional work environments – plus, the majority of entrepreneurs aren’t earning high salaries. For me, being an entrepreneur is not about money or power, it has always been rooted in resourcefulness and adaptability.
Tell us about your first experience with entrepreneurship. What sparked your interest in building something of your own?
IC: As a child, I was always very entrepreneurial. I started my first business, “Paperwork,” around the age of 6, because I saw my dad’s home office and was inspired to have one of my own. I would use his manila envelopes to keep records on the things in my life (mostly my friendships at school and their ever-changing dynamics). From there, I started numerous businesses throughout childhood – including jewelry businesses, bake sales, and various fundraising efforts. I lived a bit of a fluid life growing up, moving homes often and navigating a split household experience. I would often look up house listings online and reach out to landlords, pretending to be an adult, in an effort to find my family’s next home. Resourcefulness and leadership comes naturally for me, so building a business of my own in adulthood was inevitable, I think.
What is the origin story of your company? What motivated you to start, and how did those early days shape your journey?
IC: Sengo was born out of my deep belief in the power of connection and collaboration to address systemic gaps in wealth, health, access, and education. My journey as an entrepreneur has always been driven by the idea of creating spaces—both digital and physical—where people can come together to share resources, learn from each other, and build something bigger than themselves.
The early days of Sengo were focused on building a community that could bridge the divide between underrepresented founders and the funding they need to thrive. It was a lot of experimentation—throwing events, listening to people’s stories, and understanding how to meet both founders and funders where they are. Those experiences taught me the importance of flexibility as an entrepreneur because there were many moments where adapting to new learning was necessary.
What do you wish you had known when you started? If you could go back, what would you do differently?
IC: If I had to start over again, I wish I had known how valuable it is to connect with other entrepreneurs. In the beginning, I was very siloed and focused solely on building my own business. I’m thankful that I joined an accelerator early on because, although I wish I had taken more advantage of that community in the start, it was the environment where I established many crucial business relationships. If I could go back, I would have prioritized building relationships with other founders earlier, taking more meetings with people just for the sake of introduction. My network of founders led me to increased exposure, sparked new ideas, led to many collaborations, and brought in lots of revenue as a result.
What is the biggest milestone you hope to achieve in the next three months, and why is it important to you and your business? How are you planning to tackle it?
IC: The biggest milestone I’m focused on in the next three months is Sengo’s launch event. The event is more than just a kickoff—it’s the first real opportunity to bring our community together, showcase some of the incredible female founders I am working with, and set the tone for what Sengo represents. It’s important because it marks the transition from concept to execution, proving our ability to activate founders and funders in a meaningful way. To make it a success, I’ve been focusing on making it a fun and engaging space – I think the right people will naturally make their way into the room. I tend to approach things that way to avoid trying to achieve perfection, and make space for the outcomes that will come most naturally.
What does “success” mean to you, both personally and professionally?
IC: For me, success is about creating lasting impact. Personally, it means feeling fulfilled by the work I do, being able to support my family, and seeing the tangible difference my work makes in people’s lives. It also means maintaining a work/life balance that doesn’t sacrifice my values or my time with loved ones. Professionally, success for Sengo means democratizing access to private markets, empowering diverse founders, and showing everyday people that they have the power to be investors. I want to see people typically categorized as “consumers” on cap tables, because I believe that will lead to more equitably and sustainably run businesses.
I don’t measure success solely by revenue or growth metrics—although those matter—but by the stories of individuals who found opportunities, built something meaningful, or shifted their mindset because of Sengo. Ultimately, success for me is about building a movement that leaves the world more equitable than we found it.
Share your boldest dream for your business and the world. What’s your plan to make it a reality?
IC: Our long-term vision includes developing a technology platform that measures the impact of community spaces, proving that diverse, community-minded businesses can thrive and drive social change. By hosting events, offering grants, and providing essential startup resources, we’re steadily growing our ecosystem and preparing for a $1M raise by the middle of 2025 to scale our impact globally. I envision a world where resources of all kinds – not just financial – are more equitably distributed, and innovation isn’t stifled by limited access.
What is your entrepreneurial superpower? How has it helped you overcome challenges or seize opportunities?
IC: I believe my entrepreneurial superpower is my faith. I have enough unwavering faith – or delusion, sometimes – that all of my goals will work out for the best, even if they don’t unfold as planned. Being faith-led has inspired me to push forward in spite of ideas that don’t seem realistic to some. It has allowed me to plan for outcomes that seem out of reach.
What personal values drive you as an entrepreneur?
IC: I have nine strong values that drive me in my personal life and as an entrepreneur. The first two, acceptance and non-attachment, help me navigate the unpredictable nature of entrepreneurship with grace, so I can push myself to embrace change and let go of what no longer serves my mission. (Aka, how to navigate the inevitable sunken costs that come with business pivoting.) Patience and honesty are two more, because growth takes time, and being honest with myself and others is crucial for the authenticity I strive to embody. I focus a lot on mindfulness, which keeps me present, and resilience in order to bounce back from setbacks. My last two are self-compassion and gratitude. Both of which allow me the humility to tackle wins and losses with grace and appreciation for the journey. These values shape how I build and lead Sengo (and my life as a whole), driven not just by ambition, but intention.
How have those values influenced your company’s culture and mission? Can you share an example?
IC: Those personal values are deeply woven into Sengo’s culture and mission. Acceptance and non-attachment have shaped our approach to supporting founders from all walks of life, recognizing that every entrepreneurial journey is unique and valuable. Our mission to democratize access to funding is rooted in patience and resilience—understanding that systemic change takes time but is worth pursuing relentlessly. In order to be the change you want to see, I think it requires a certain level of humility around your own imperfections and learned complicity in less-than-ideal practices.
An example of our values at play is our Sengo Sprint grant series. We launched it even before our platform’s official rollout because we believed in providing immediate support to underrepresented founders, regardless of the challenges ahead. This initiative reflects our gratitude for the community we’re building and our commitment to letting go of traditional barriers to funding. By staying mindful of our mission and being honest about the gaps in the ecosystem, we are working to maintain a culture where our team, founders, and funders feel supported, seen, and empowered.
What’s it like working alone or with a team? How do you approach building strong partnerships?
IC: My business is still very young, so I do much of my work alone. Doing so offers me the flexibility and focus to execute my vision, but I also deeply value the power of strategic partnerships. I approach building strong partnerships by trying to understand someone else’s goals and how my efforts complement their journey to them. I think that’s the best way to establish a mutually beneficial arrangement that allows multiple parties to feel understood in what they are looking to accomplish. My partnerships have really helped me get to where I am – through sharing resources, co-hosting events, and just talking through ideas.
What role has mentorship played in your journey—whether as a mentor or a mentee? Share a story that highlights its impact.
IC: Mentorship has played a significant role in my journey, particularly in the ways I’ve been able to support others. I’ve had the privilege of mentoring unhoused families, high school students, and peers in more informal settings. I have a strong passion for teaching and I love coming up with ways to help connect ideas for people when they learn a new concept.Two of the most impactful mentoring experiences I’ve had were through College Spring and Imagine LA. With College Spring, I mentored students from categorically underserved areas of Los Angeles, helping them prepare for the ACT and SAT. Seeing those students grow more confident and empowered to tackle what often feels like the most high-stakes test of their lives was incredibly inspiring. With Imagine LA, I worked with families that had recently exited homelessness and needed some support, accountability, and encouragement to re-stabilize. In my opinion, being a mentor is a mutual exchange of energy and value, and has helped me to decenter my own priorities for a better perspective on the bigger picture.
What excites you most about the market or industry you operate in? How are you navigating its challenges and changes?
IC: What excites me most about the industry I operate in is the growing momentum around democratizing access to private markets. Historically, private investing has been limited to institutional and accredited investors, leaving many talented founders and everyday people on the sidelines. But that’s changing. The rise of crowdfunding, community-driven investing, and new financial tools is opening doors for underrepresented founders and first-time funders, and Sengo wants to be at the forefront of that shift.
Navigating the challenges of this evolving landscape requires adaptability and foresight. Regulations around fundraising are complex and constantly shifting, so it requires ongoing learning. Risk mitigation is also a big part of building this business – making sure I have the right partners to mobilize our community (like legal, compliance, admin, etc.) can be daunting, but it’s part of the territory.
We’re staying ahead by fostering community through events, leveraging technology to streamline fundraising processes, and continuously evolving our platform to meet the needs of both founders and funders. The challenge is real, but the opportunity to reshape this space excites me everyday.
What’s one daily ritual or practice that keeps you grounded and focused?
IC: The daily practices that keep me grounded and focused are prayer and mindfulness. Taking time each day to pause, reflect, and connect with my faith is a non-negotiable to stay centered. It allows me to pull from a source stronger than myself to get through whatever life has for me. That, and maintaining a consistent diet is extremely important. I strongly believe in fueling your body and mind before you expect it to perform at a high level. To me, that is part of respecting myself. These elements of my routine help me approach each day with intention, gratitude, and a sense of calm, so I can lead Sengo with a clear mind and an open heart.
Share a moment when your resilience as an entrepreneur was tested. How did you push through, and what did you learn?
IC: I remember my very first sip and shop event—everything was set, products delivered, pop-up partners lined up, and even a key contact that I was looking forward to meeting who was planning to attend. But when we reached the day before the event, RSVPs were almost non-existent. The venue wanted to cancel the event because of the low turnout, and I wanted to give it a little more time to see what would happen the day of. I quickly had to pivot—either by finding a new venue or reworking the event format entirely—to salvage the idea. The experience reinforced the importance of having a flexible and creative mindset, and having the courage to put yourself out there. I canceled the event and, inevitably, the “failure” has helped me better approach each event that I do with more intentionality. I’ve also gotten a lot more comfortable with things not going as planned and feeling less shame around that.
How do you manage the demands of entrepreneurship while maintaining your well-being? What strategies work best for you?
IC: Maintaining my well-being is really non-negotiable because my business won’t perform if I’m not in a good place mentally or physically. Health is really the biggest priority for me because I know that I risk bigger health challenges or setbacks if I don’t listen to my body each day. The strategies I use are mostly small day-to-day habits that allow me to be at my best. Eating three meals each day, trying not to be overly caffeinated, exercising, practicing moments of stillness – these are all really important daily habits that allow me to be my best self.
Where do you find inspiration to fuel your vision? Do you have any creative habits that help you stay innovative?
IC: I have always been an artist, and I draw inspiration from every creative outlet I’ve ever embraced. Growing up immersed in dance and attending an arts school for high school laid the foundation for a lifelong commitment to my creative expression. My creative habits—dancing, painting, reading, writing, and even publishing research—are not only ways to express myself but also essential practices that fuel my vision and drive my career forward. My art continually sparks new ideas and innovative approaches for me. My creativity is the heartbeat of my progress, and has been for as long as I can remember.
What kind of entrepreneur do you aspire to be? How do you want to be remembered in your industry or community?
IC: I don’t embrace the notion of entrepreneurship as a solo journey—I see myself as part of a collective. I aspire to be remembered as a disruptor—someone who always seeks to understand why things are the way they are. I want to challenge existing paradigms, reshape outdated practices, and pave the way for solutions, especially ones that help my community. As a Black woman, I hope my work inspires others. I want to see more institutions challenged, and more innovators question conventions and create change.
How does your work contribute to solving larger societal challenges or helping others?
IC: My work is dedicated to shifting the power dynamics in investment and community development. With Sengo, I’m working to help communities retain more equity and actively influence how investments are made. I believe that by better measuring community success—and by enabling community members to become shareholders in the businesses and spaces they frequent—we can create incentives that are not solely driven by high financial returns, as is often the case with traditional venture capital and private equity.
I believe that if we can empower communities to maintain greater control over investments in the private sector and share in the success of local ventures, we can build a more equitable system where progress is driven by the many, not just the few.
Have you faced a major crisis in your business? How did you navigate it, and what advice would you give others in similar situations?
IC: One of my biggest business crises came prior to starting Sengo, when a real estate investment was underperforming and simply maintaining the asset became a struggle. I had to navigate operational hurdles that were leading to intense disputes, being part of a firm that was underperforming in other areas, and also the disappointment from others whose decisions were tied to the venture. The experience took a toll on my mental health and forced me to confront the realities of expectation management. I had to really prioritize clear, honest communication—both in setting realistic expectations and in owning up to challenges when they arise. I also had to understand that the frustration of others may be outside of my control sometimes, which is hard to navigate when you want to make others satisfied. My advice to anyone in a similar situation is to embrace accountability, openly discuss setbacks, and proactively manage expectations. Facing the disappointment of others can be tough, but it’s a natural part of life and how you deal with that is the biggest indicator of how you’ll reach success in the future.
What’s one piece of advice you would give to aspiring entrepreneurs about building and leading teams?
IC: When it comes to building a team, I think it’s important to allow people the space to thrive. If you can establish a mutual vision or value system, and then empower them to own their roles, I think the best outcomes grow from there. Align with those whose strengths complement your own, and foster an environment with open communication and accountability on all sides. When people feel valued and trusted, I think they feel empowered to show up better.
Have you raised outside capital for your business? If so, what kind, and why did you choose that route?
IC: As someone in the fundraising space who has worked with many founders that are raising money, I approach fundraising for my own business in a unique way. I plan to raise outside capital but only from aligned parties and community members. This has made fundraising under Reg CF (aka a “community round”) more appealing than most other directions. Reg CF allows unaccredited investors to invest at smaller minimums, and it allows founders to raise less dilutive capital from their community. Plus, it can be seen as market validation especially for consumer brands. This approach feels the most on-thesis for what I am building and the direction I want to take my journey. I want to be an example of the impact of community finance.
What do you think needs to change in the entrepreneurial ecosystem to reduce barriers for others?
IC: I’ve learned from my experience and research that many entrepreneurs are hesitant to raise money because they lack a network that identifies as “investors”, fear having to sell their vision, and plan to raise only enough to get by—which can lead to underfunding and eventual failure. There are multiple layers that need to be addressed to solve these issues. Overall, I believe more funding should be allocated to underrepresented founders, especially to Black women. To do this, more people should be taught what it means to invest in private companies, demystifying the process. We also need more safe platforms that support this marketplace of founder/funder/community member. If we all felt empowered to support each other’s businesses as consumers and investors, we would no longer rely on exploitative investment models or feel as averse to the idea of investing in each other.
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