Strive Enterprises, a financial services company with a focus on asset management, has successfully raised $30m in a Series B funding round.
The round was led by Cantor Fitzgerald, with participation from Deason Capital Services, Narya Capital, and several notable entrepreneurs.
The funds will support the launch of Strive Wealth Management, driven by the significant demand for expanded financial services following the early success of its asset management platform in the United States. Strive’s CEO, Matt Cole, highlighted the remarkable growth of their asset management business, noting that assets under management surpassed $1.6bn within two years of launching their first ETF.
Strive aims to leverage Cantor Fitzgerald’s institutional relationships and market expertise to enhance its product and service offerings. Cantor Fitzgerald and Deason Capital Services will each nominate a member to Strive’s Board of Directors. Howard Lutnick, Chairman of Cantor Fitzgerald, expressed enthusiasm for the partnership, emphasizing the strategic investment in Strive’s growth opportunities.
Co-founded in 2022 by Vivek Ramaswamy, Strive seeks to restore shareholder primacy in capital markets. Initial seed investors include Peter Thiel, Bill Ackman, Cantor Fitzgerald, Founders Fund, and Narya Capital. The company competes directly with major financial institutions, focusing on maximizing shareholder value.
Strive CEO Matt Cole said, “The success of Strive’s asset management business has been extraordinary, growing to over $1.6 billion in assets under management less than two years after the launch of our first ETF.
“Off the back of this momentum, Strive will be launching a direct wealth management offering focused exclusively on maximizing value for our clients. Many Americans are hungry for an authentic and unapologetic embrace of capitalism, meritocracy, and innovation and that’s what we strive to deliver.”
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