ImpactAlpha, April 2 – Ellevest, the robo-advisor launched last year by Wall Street veteran Sallie Krawcheck is launching an impact fund to invest in women-owned businesses and other underserved groups and ESG focused funds.
The company, which manages about $100 million, said its impact investments “are specifically designed to generate measurable, positive social and/or environmental outcomes — with a focus on advancing women.”
Ellevest’s “impact portfolio” includes funds that support small businesses owned by women and other underrepresented populations, as well as broader funds targeted at ESG (for environmental, social and governance) performance.
All of those factors, including environment and climate change, poor governance and corruption, unequal pay, and the lack of gender diversity “have a disproportionate effect on women,” Ellevest’s Sylvia Kwan wrote in a post.
