Finance
Novata Gets Additional Funding for Private-Markets ESG Platform
The New York-based firm has backing from investors including Hamilton Lane, S&P Global and Ford Foundation.
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Novata, a company set up to track the ESG performance of closely held companies, has received additional funding from a group of backers that includes the Ford Foundation, S&P Global Inc., Hamilton Lane Inc. and Omidyar Network.
The investment of $21 million ranks among the largest-ever initial rounds of fundraisings for a public-benefit corporation, Novata Chief Executive Officer Alex Friedman said in an interview. Public-benefit companies are for-profit entities set up with the goal of doing good for the public.