Participated · Series D · Apr 2025

Ethic provides a platform for advisors and institutions to build personalized, values-aligned portfolios. The platform balances clients’ financial goals, tax needs, and personal values and combines direct indexing, SMAs, UMAs, model portfolios, and active tax management. Ethic also offers advisor-facing tools to help deliver portfolios that reflect what matters most to clients. Led by CEO and co-founder Doug Scott, the company focuses on serving advisor and institutional partners. It intends to use new funding to further enhance its investment capabilities and technology to continue supporting those partners. Ethic is a tech-driven asset management platform that powers personalization for financial intermediaries through scalable technology. It enables the creation of custom direct-indexing portfolios that reflect clients’ values, financial goals, and tax preferences. The company also offers transparent impact reporting and educational materials to help advisors lead sustainability conversations. Ethic’s platform is available to advisors custodying with Fidelity, Charles Schwab / TD Ameritrade, U.S. Bank, Northern Trust, Morgan Stanley, and Pershing. Led by CEO Doug Scott, the company plans to use recent funding to expand into new markets and products and to continue investing in its platform experience. Ethic recently raised capital in a Series C, strengthening its financial position for growth. Ethic enables advisors to personalize a given benchmark to align with a client’s investment, values, and tax-management preferences while seeking to minimize tracking error. Its core offering centers on sustainable direct indexing and includes transparent impact reporting and educational tools about sustainability issues. The platform is available to advisors custodying with Fidelity, Charles Schwab/TD Ameritrade, or Pershing. Ethic has seen rapid growth—assets on its platform increased more than 10x since its prior round and it manages over $760 million in assets. The company plans to use new capital to support continued rapid growth and further investment in its technology platform. Ethic is an SEC-registered investment adviser based in New York City and was founded in 2015. Ethic is a tech-driven asset manager that powers the creation of personalized sustainable investment solutions for wealth advisors and institutional investors. Founded in 2015 and based in New York City, the company is led by CEO Doug Scott and is an SEC Registered Investment Adviser. Its core product is a platform that enables registered investment advisors and wealth managers to build customized sustainable portfolios. Ethic closed a $13M Series A round and previously raised $6.8M in October 2018. The company intends to use the new capital to drive growth in the RIA and wealth management channels and to expand its engineering, client service and business development teams. Ethic provides an end-to-end technology solution that enables wealth advisors and institutional investors to create custom, optimized, tax-efficient sustainable equity portfolios. The platform automates the creation of portfolios designed to outperform on sustainability metrics. Ethic is an SEC-registered investment adviser and was founded in late 2015 by Johny Mair, Doug Scott and Jay Lipman. The team’s experience spans global investment firms including Goldman Sachs, JPMorgan, Morgan Stanley and Deutsche Bank. In October 2018 the company secured $6.8M in venture capital funding from strategic backers. The product is positioned to serve both advisors and institutional clients seeking programmatic sustainable investing solutions.

Led · Series A · Jun 2022

Matter Health embeds primary care clinics within affordable housing communities to provide a personalized, holistic model of preventive care for dual-eligible older adults. The company operates high-touch clinics that address physical, mental, and social needs with the aim of improving long-term health and reducing costs. Matter currently runs four primary care centers in Tennessee and reports early operating improvements, including a measurable decline in ER utilization and preventable hospitalizations and a Net Promoter Score of 94. Founded in 2021, Matter plans rapid expansion: it intends to open 30 centers and expand into Georgia and Michigan by 2023. The Series A proceeds will be used to accelerate that expansion and to invest in the company's Clinic Support Center in Nashville. The core product is a location-based, preventative primary care service model targeted at vulnerable, low-income older adults.

Participated · Series C · Apr 2021

Hazel Technologies is a USDA-funded agricultural technology company that develops solutions to extend the quality shelf life of fresh produce. Its flagship product is a packaging insert sachet that delivers a controlled release of shelf-life enhancing vapor, placed in boxes of bulk produce at harvest to slow aging and prevent decay. The company works with more than 160 companies across 12 countries and counts Mission Avocado, Zespri, and Oppy among its customers. Founded in 2015 and led by CEO Aidan Mouat, Hazel is based in Chicago, IL. Hazel raised $70M in a Series C, bringing cumulative capital raised to over $87M. The company intends to use the funds to build global operations in major agricultural production areas and expand into Southeast Asia, Africa, the EU, and beyond. Hazel Technologies is a USDA-supported agricultural technology company founded in 2015 and based in Chicago, IL. It develops sachet-based products that release active, shelf-life-enhancing vapor from packaging inserts placed in boxes at harvest to slow aging and prevent fungus or decay. The company has completed over 100 pilot trials since 2017 across crops including melons, okra, apricots, avocados and cherries. Hazel works with over 100 of the largest fresh produce packers, shippers and retailers in the US and Latin America. The company plans to use new funding to continue growth of its main product line, launch new technologies and add talent. Its recent fundraise increased its cumulative financing to date, supporting commercial expansion of its core technology. Hazel Technologies develops drop-in packaging inserts that release an anti-fungal, shelf-life-extending vapor for produce. Its inserts can extend shelf life by as much as three times by preventing fungus and decay. The company is USDA-supported and is led by CEO and co-founder Aidan Mouat. Hazel closed a $3.26M Series A and intends to use the funds to increase production capacity. In 2017 and 2018 the company announced partnerships with major domestic and international produce growers, including Dresick Farms International (DFI) and Agritrade Farms International. The product targets the global food-waste problem by increasing produce shelf life via a simple packaging solution. Hazel Technologies builds shelf-life enhancement technologies aimed at extending the freshness of fresh produce to reduce food waste. The company develops treatments and packaging adjuncts that growers and shippers can apply to prolong produce shelf life. Hazel has received multiple USDA awards, including a recent $600k Small Business Innovation Research (SBIR) grant and an earlier $100k development grant in 2016. With the new funding the company plans to explore export markets and further enhance its technology for global food-waste reduction. The USDA awarded the SBIR grant based on endorsements from growers who tested Hazel’s technologies, providing field validation. Aidan Mouat is the company’s CEO and co-founder. Chicago-based Hazel Technologies produces biodegradable, non-toxic packaging inserts—pads and sugar‑packet–sized sachets—that actively emit ingredients to slow spoilage of fruits and vegetables. Its FruitBrite packets use 1-methylcyclopropene (1‑MCP) to block ethylene receptors and delay ripening; the BerryBrite product line targets fungal threats. The company was started by Northwestern University alumni and is led by CEO Aidan Mouat. Hazel says the inserts work with existing grower and shipper infrastructure and can extend shelf life from days to weeks, enabling access to more distant markets. Hazel previously received SBIR grant funding from the USDA. The startup raised funding to ramp up manufacturing and to develop new products while expanding its commercial partnerships.