Ethic, an asset management platform that powers personalisation for financial intermediaries, has closed a $50 million Series C funding round led by the Jordan Park Group.
The round also saw participation from UBS Next (venture arm of UBS) as well as existing investors Oak HC/FT, Nyca Partners, Sound Ventures, Urban Innovation Fund, and Kapor Capital.
“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,” says Doug Scott, co-founder and CEO of Ethic.
He adds that the company’s vision is to create “a world in which all investing is sustainable investing”.
Founded in 2015 with its headquarters in New York City, Ethic’s technology platform enables the creation of custom direct indexing portfolios that reflect clients’ values, financial goals and tax preferences.
It also offers features such as transparent impact reporting and educational materials for financial professionals “to lead meaningful conversations around sustainability”.
Since its $29 million Series B round in March 2021, Ethic claims to have surpassed $2 billion in assets and grown its headcount by more than 70%.