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Ackman, Thiel Back Investor Fighting ‘Political Agendas’

  • Strive’s Ramaswamy says large fund groups have huge influence
  • It’s time to push back on ‘divisive political issues,’ he says
Strive Asset Management Co-Founder Vivek Ramaswamy 

Strive Asset Management Co-Founder Vivek Ramaswamy 

Photographer: Tristan Wheelock/Bloomberg
Updated on

Hedge fund manager Bill Ackman and Peter Thiel, a supporter of former President Donald Trump, are backing a startup investing firm that says it plans to go head to head against large money managers that promote stakeholder capitalism and “political agendas.”

Strive Asset Management, co-founded by pharmaceutical investor Vivek Ramaswamy, has raised about $20 million, according to a statement Tuesday. Ramaswamy said large fund managers are investing their clients’ money to influence US public companies to further “political agendas” that many of their clients disagree with.