New York City based provider of RIA services and tech-driven asset management raised $13m in Series A funding led by Nyca Partners.
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Ethic raises $13 million
“We’ve been really fortunate to benefit from a shift that has happened in the market separate from Ethic,” Jay Lipman, Ethic co-founder and president, told ThinkAdvisor. “We have had a dramatic level of demand and this funding enables us to really scale to meet that demand effectively.” With the growth of sustainable investing — the U.S. Forum for Sustainable and Responsible Investing said strategies grew 38% from 2016 to 2018, to $12 trillion in assets — Lipman sees environmental, social and governance investing mimicking the growth of ETF investing a decade ago.
