July 25, 2024
Lexington, KY – (BUSINESS WIRE) – Morris Industries is proud to announce its strategic investment in Strive Enterprises. Morris Industries participated in the $30-million Series B fundraising round led by Cantor Fitzgerald and included participation from Deason Capital Services, LLC, Narya Capital, and several prominent entrepreneurs.
Strive Enterprises is set to launch Strive Wealth Management, an extension of their already successful asset management business. Strive CEO Matt Cole expressed his excitement about the future of the company:
“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.”
As Strive continues to expand, the company is actively evaluating potential acquisitions of independent Registered Investment Advisors (RIAs) and wealth management advisor teams to join their dynamic growth.
Nate Morris, Chairman and CEO of Morris Industries, remarks, "Morris Industries is thrilled to invest in Strive Enterprises during this pivotal stage of their growth. We believe in Strive’s potential to revolutionize the wealth management industry, and we are excited to support their continued success and expansion."
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.
About Morris Industries
Morris Industries is a conglomerate that is committed to reimagining the legacy economy. Morris Industries works to identify and invest in innovative companies with unrealized growth potential, whose current ownership desires an exit strategy, requires capital, or needs an experienced management team to continue its growth. Morris Industries was founded upon the idea that market-based innovation can solve America’s biggest challenges.
For media inquiries, please contact:
Catherine Brady
Morris Industries