OpenInvest, the socially-responsible online-investment platform for retail investors, has raised $3.25 million in seed financing. Andreessen Horowitz, one of Sand Hill Road’s best known venture capitalists, led the round.
Unlike many online passive investment options, OpenInvest allows users to manage their portfolio around themes such as climate change, fossil fuels, gender and LGBT equality, or political affiliation, and collectively invest and divest with other investors.
Social impact plays a role in 93 percent of millennials’ investment decisions, the company says. “We wanted to show that the public isn’t a sideshow [in impact investing] — that it can be the mainstage,” CEO Conor Murray told ImpactAlpha.
Other social- and impact-focused robo-advisors also are reaching out to retail investors. See more on retail impact investing, here:
Read This if You are Not a Zillionaire: Impact Investing For the Rest of Us