Ethic, a sustainable investing platform that provides direct indexing, announced that it completed a $50 million Series C round.
The funding round was led by Jordan Park Group. UBS also participated through its innovation unit, UBS Next, along with Ethic’s existing investors Oak HC/FT, Nyca Partners, Sound Ventures, Urban Innovation Fund and Kapor Capital, according to a statement.
The company said it would use the new funding to expand into new markets and products, and to continue to invest in its platform experience. It noted that it saw record inflows during the first half of the year despite volatile markets. Ethic now oversees more than $2 billion in assets.
“Our personalized 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,” Doug Scott, co-founder and CEO of Ethic, said in the statement.
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