# Ethic

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ethic

- Industry: Financial Services
- Headquarters: New York, US
- Website: www.ethic.investments
- Total disclosed funding: $163M
- Latest round: Series D (Apr 3, 2025)
- Investors on record: 10

## About

Based in the US, Ethic Inc. operates as a provider of personalized investment solutions, focusing on sustainability and tax efficiency for advisors and institutional clients through an innovative platform.Ethic Inc. was founded in 2015 and is headquartered in New York, US. The company specializes in offering values-aligned investment solutions and has engaged in five total deals. The firm has recently raised USD 64 mn in its Series D funding round, led by State Street Global Advisors, with participation from notable investors such as Fidelity Investments and Oak HC/FT Partners. Daniel Haarburger and Doug Scott serve as co-founders and co-CEOs, contributing to the company's strategic direction based on their extensive experience in investment management.Ethic specializes in personalized, values-aligned, and tax-smart investment solutions primarily through its innovative platform designed for registered investment advisors (RIAs), family offices, and institutional clients. The company's core offerings include separately managed accounts, unified managed accounts, and model portfolios, each tailored to align with clients' unique financial, sustainability, and tax objectives. Ethic employs proprietary sustainability research and data science to create customized direct index portfolios that reflect specific client values. The platform facilitates a streamlined client experience, enabling advisors to generate personalized proposals and comprehensive reporting on financial performance, impact metrics, tax considerations, and proxy voting activities. Ethic's services target clients across North America, partnering with over 250 advisory firms and institutions to deliver impactful investment strategies.Ethic generates revenue primarily through management fees associated with its investment solutions and advisory services. Clients engage with the firm to manage their investment portfolios, which may include structured transactions based on the firm’s diverse investment products. The firm’s revenue model reflects a B2B structure, focusing on partnerships with advisory firms and institutions, where fees are typically assessed as a percentage of assets under management (AUM). Ethic's flagship offerings, including proprietary active tax management and sustainable investment strategies, enhance the value provided to clients, justifying the management fees applied.In April 2025, Ethic Inc. raised USD 64 mn in Series D funding, led by State Street Global Advisors. This funding will be utilized to enhance the firm's investment capabilities and technology to better serve its advisors and institutional partners. The company aims to continue expanding its market presence in North America and may explore opportunities in new geographical regions, with a focus on diversifying its product offerings and improving client engagement.

## Funding rounds

- Series D, Apr 3, 2025, $64M — UBS, Fidelity Investments, State Street Investment Management, Nyca, Oak HC/FT, Jordan Park Group
- Series C, Apr 5, 2022, $50M — UBS, Kapor Capital, Sound Ventures, Nyca, Oak HC/FT, Urban Innovation Fund, Jordan Park Group
- Series B, Dec 16, 2020, $29M — Fidelity Investments, Kapor Capital, Sound Ventures, Nyca, Oak HC/FT, Urban Innovation Fund, Thirdstream Partners
- Series A, Jun 10, 2019, $20M — Fidelity Investments, Kapor Capital, Sound Ventures, Nyca, Urban Innovation Fund, Thirdstream Partners

## Investors

- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series A, Series B, Series D
- Kapor Capital (https://capitalatlas.ai/funds/kapor-capital) — Series A, Series B, Series C
- Sound Ventures (https://capitalatlas.ai/funds/sound-ventures) — Series A, Series B, Series C
- Nyca (https://capitalatlas.ai/funds/nyca) — Series A, Series B, Series C, Series D
- Urban Innovation Fund (https://capitalatlas.ai/funds/urban-innovation-fund) — Series A, Series B, Series C
- Thirdstream Partners (https://capitalatlas.ai/funds/thirdstream-partners) — Series A, Series B
- Oak HC/FT (https://capitalatlas.ai/funds/oak-hc-ft) — Series B, Series C, Series D
- UBS — Series C, Series D
- Jordan Park Group — Series C, Series D
- State Street Investment Management (https://capitalatlas.ai/funds/state-street-investment-management) — Series D