According to FintechNews, New York-based asset management platform Ethic has closed a US$50 million Series C funding round led by the Jordan Park Group, with participation from UBS’ venture unit UBS Next.
Oak HC/FT, Nyca Partners, Sound Ventures, Urban Innovation Fund, and Kapor Capital participated.
Ethic offers financial intermediaries custom equity portfolios for end clients’ sustainability, financial, charitable giving, and tax management preferences.
Since its $29 million Series B raise in 2021, the company has grown rapidly, surpassing $2 billion in assets and tripling its headcount.
Its focus on “impact” is endorsed by Harry and Meghan and won the 2022 Model Wealth Manager award from Celent.
“Our personalised approach, which allows people to create portfolios that reflect their own unique definitions of sustainability, has helped facilitate our rapid growth with intermediaries and their clients,”
said Doug Scott, Co-Founder and CEO of Ethic.
We have valued our partnership with the Ethic team these past few years, and are excited to be further deepening our collaboration through this investment,”
said Lauren Booker Allen, Partner at Jordan Park Group.
UBS Next previously announced that it had invested in US-based IT operations platform BigPanda. –
Source Link UBS Next invests $50M in Ethic’s Series C
