Ethic raises $29 million to grow customized sustainable portfolios for wealth advisors

ImpactAlpha Editor

Dennis Price

ImpactAlpha, Mar. 31 – Ethic has raised $29 million to grow its customized sustainable portfolios for wealth advisors. The tech-driven asset management platform says it has grown assets under management ten-fold since its 2019 financing round, including to $760 million in sustainable direct indexing strategies. “It’s increasingly clear that the future of asset management is personalized,” said Dan Petrozzo of Oak HC/FT, which led the new financing. 

Existing investors including Fidelity Investments, Nyca Partners, Sound Ventures, ThirdStream Partners, Urban Innovation Fund and Kapor Capital also participated. Ethic has a strategic agreement with Fidelity and has partnered with several large U.S. advisory firms.