STRIVE RAISES $30 MILLION IN SERIES B FUNDING ROUND

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Jul 23, 2024, 11:30 ET

Plans launch of wealth management offering
Financing round was led by Cantor Fitzgerald

COLUMBUS, Ohio, July 23, 2024 /PRNewswire/ -- Strive Enterprises, Inc. ("Strive"), a financial services company with an asset management platform focused on maximizing long-run returns for investors, today announced it closed a $30 million Series B financing round led by Cantor Fitzgerald, L.P. Deason Capital Services, who led the Series A round, Narya Capital, and several prominent entrepreneurs also participated in the financing.

The company plans to launch Strive Wealth Management, given the significant demand for expanded financial services following the early success of its asset management platform in the United States.

"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," said Matt Cole, CEO of Strive. "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."

Strive will also leverage Cantor's deep institutional relationships and proven market expertise to expand and enhance Strive's products and services. Additionally, Cantor Fitzgerald and Deason Capital Services will each nominate a member to Strive's Board of Directors.

"We are strategically investing in fascinating companies – like Strive – that are working to shape our future," said Howard Lutnick, Chairman of Cantor Fitzgerald, L.P. "We look forward to partnering with Strive on their exciting growth opportunities and believe the wealth management industry is primed for an offering that focuses solely on maximizing value and returns for clients."

Strive was co-founded in 2022 by Vivek Ramaswamy with the goal of restoring shareholder primacy in the capital markets. Seed investors include Peter Thiel, Bill Ackman, Cantor Fitzgerald, Founders Fund, and Narya Capital.

Cantor acted as the sole placement agent on the Series B financing round.

To register to meet with a Strive Financial Advisor, please visit learn.strive.com/wealth.

About Strive
Co-founded in 2022 by Vivek Ramaswamy, Strive is a financial services firm with a mission to maximize value for their clients through unapologetic support of capitalism. The firm has quickly grown to manage $1.6 billion in assets, competing directly with the world's largest financial institutions by empowering Americans to invest with a sole focus on shareholder value maximization. Learn more at strive.com.

Forward-Looking Statements
Certain statements included in this release contain forward-looking statements regarding Strive's future operations and performance, including statements on future services and future acquisitions. Such statements are based on current expectations, speak only as of the date of this release and are subject to risks and uncertainties that could cause actual results to differ materially. There can be no assurance that the events predicted in this release will be attained. Strive does not have any obligation to update of any changes to the statements included in this release.

SOURCE Strive Enterprises, Inc.