OpenInvest, a new company based in San Francisco, has raised $3.25 million in new financing from one of venture capital’s biggest names with claims that it can help both your stock portfolio and your moral compass point in the right direction.
Most millennials, apparently, want to invest in companies that align with their values, according to a Morgan Stanley survey the company cited.
Catering to those needs, OpenInvest has set up a series of screens working with different datasets and industry groups to ensure that any companies an investor wants to back have practices that put them on the “right” side with issues like climate change, fossil fuels, weapons manufacturers, gender equality, LGBTQ workplace treatment, deforestation, tobacco, DAPL supporters, or even companies that support President Donald J. Trump.
Using the company’s website, would-be investors fill out a survey of the issues that matter to the most and then OpenInvest does the rest.
The company’s founders, ex-hedge funders who worked to build Bridgewater Associates into a multi-billion dollar hedge fund behemoth, ostensibly know what their doing.
OpenInvest raised its cash from investors including…