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.
The round also saw participation from existing investors including Oak HC/FT, Nyca Partners, Sound Ventures, Urban Innovation Fund and Kapor Capital.
Ethic provides financial intermediaries with custom equity portfolios that can be tailored to end clients’ individual sustainability, financial, charitable giving and tax management preferences.
The company has grown rapidly since its US$29 million Series B raise in 2021, surpassing US$2 billion in assets and expanding its team headcount by more than 70 percent.
Its focus on “impact” is endorsed by the Duke and Duchess of Sussex Harry and Meghan, and its impact reporting feature was awarded the 2022 Model Wealth Manager award from global advisory firm Celent.
Doug Scott
“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.
Lauren Booker Allen
“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.
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