US-based impact investment platform Swell Investing has received $30m in funding from insurance and financial services firm Pacific Life, the company has announced, without giving a timeframe for the investment.
Swell has created an investment platform that targets areas such as renewable energy, clean water, life sciences, healthy living and waste reduction technology.
The company has attracted more than 3,000 investors since it launched the platform in May 2017 and now has a total of more than $16m of assets under management.
Roughly half of the Pacific Life capital will support restructuring efforts in 2018 that will involve Swell adding office space in California, forming a holding company called Swell Investing Holding and expanding its mobile-based activities.
Swell Investing CEO Dave Fanger said: “Our goal in 2018 is to surface stories of progress from the companies in our portfolios so that investors understand the impact they have on the world.”
Adrian Griggs, Pacific Life’s chief operating officer, added: “Pacific Life has a history of incubating successful money managers.
“In just eight short months since launching, Swell has captured the attention of the next generation of responsible investors. We’re thrilled to be supporting Swell as they combine Pacific Life’s deep expertise in financial services with an accessible, digitally driven and human-centred investing option.”