Led by Vivek Ramaswamy and backed by some of America’s most prominent investors and entrepreneurs
Working to launch funds that vote for stocks to get American companies to embrace product excellence over politics – starting in Q3 2022
COLUMBUS, Ohio, May 9, 2022–(BUSINESS WIRE)–Today, Strive Asset Management (“Strive”) launches with a mission to give back a voice to ordinary citizens in the American economy by getting companies to focus on excellence rather than politics. Strive is led by co-founder and executive chairman Vivek Ramaswamy and has raised over $20 million from some of America’s most prominent venture capitalists and entrepreneurs.
Strive aims to solve a fiduciary problem created by the three largest US asset managers – BlackRock, Vanguard and State Street – which control more than $20 trillion in assets, exceeding the total gross domestic product of the United States. These “Big 3” firms have a fiduciary duty to promote the best interests of their clients. Yet, in the name of “stakeholder capitalism,” they use their clients’ funds to exert decisive influence over nearly every US public company to advance political ideologies that many of their clients disagree with. . They engage in coordinated efforts to adopt a uniform social agenda across corporate America, resulting in higher gas prices and other consumer harms, which the Attorney General of the Arizona, Mark Brnovich recently called “the biggest antitrust violation in history.”
Strive offers a new alternative to the Big 3 and advances excellence capitalism, a new movement that leads American companies to focus exclusively on providing excellent products and services to their customers, rather than mixing business and politics. Survey Data suggest that most US consumers, voters and shareholders overwhelmingly agree with Strive’s approach over that of the big three asset managers. Strive believes his approach will help rekindle a genuine diversity of thought and restore genuine competition in US financial markets, a prerequisite for a well-functioning economy and democracy.
“Over the past two years, I’ve traveled the country and listened to the concerns of everyday Americans who want to be heard where they shop, work and invest,” Ramaswamy said. “We want iconic American brands like Disney, Coca-Cola and Exxon, and American tech giants like Twitter, Facebook, Amazon and Google to deliver high-quality products that improve our lives, not controversial political ideologies that The Big 3 trump card Managers have fueled this polarizing new trend in American business, and that’s why we’ll compete head-on with them to refocus American business on the shared pursuit of excellence rather than the shared pursuit of excellence. Politics.”
Strive has secured its seed funding from notable U.S. institutions including Founders Fund, Narya Capital and Flex Capital, as well as a diverse base of investors and successful entrepreneurs who embody the American Dream – including the co-founder of PayPal , Peter Thiel, Fund Manager Bill Ackman, Palantir Co-Founder, Joe Lonsdale, Dorado Group Chairman, William Kappaz, Cantor Fitzgerald Chairman and CEO, Howard Lutnick, Industry Veteran energy CR Sincock II, the famous chemist and pioneer of HIV therapy, Professor Raymond Schinazi, CEO of QOL Medical, Derick Cooper, and rock musician and company. capitalist DA Wallach, among others.
About Strive Asset Management
Strive is an Ohio-based asset management firm whose mission is to give back a voice to everyday citizens in the American economy by getting businesses to focus on excellence rather than politics. Strive will compete head-to-head with the world’s largest asset managers by launching funds that advance prime capitalism in the boardrooms of American corporations. The company was co-founded by Vivek Ramaswamy and Anson Frericks in 2022 and plans to launch its first product in the third quarter. Learn more about StriveFunds.com.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220509006251/en/