Morgan Stanley Launches Subsequent Degree Fund in Partnership with Hearst, Microsoft and Walmart to Spend money on Numerous Begin-Ups

NEW YORK–(BUSINESS WIRE)–Morgan Stanley Funding Administration (MSIM) and the Multicultural Technique Group right this moment introduced it has launched Morgan Stanley Subsequent Degree Fund, L.P. (“Subsequent Degree” or the “Fund”). The Fund, a part of MSIM’s Non-public Credit score & Fairness platform, will spend money on primarily early-stage know-how and technology-enabled corporations with ladies or various members as a part of the founding group from goal sectors together with know-how, shopper/retail, monetary know-how, healthcare and media & leisure. Traders within the technique embrace the important thing inaugural company companions: Hearst, Microsoft and Walmart. This new technique will construct upon the experience of the Morgan Stanley Multicultural Innovation Lab, Morgan Stanley’s in-house start-up accelerator, and HearstLab, which gives money funding and providers to early-stage, women-led startups. The group anticipates partnering with further company organizations that share comparable strategic pursuits.

“By deliberately searching for out high-growth corporations based by multicultural and ladies entrepreneurs, Subsequent Degree presents an thrilling alternative for disruptive startups to extend their visibility and speed up their companies with the help of our company companions,” stated Alice Vilma, Co-Portfolio Supervisor, Morgan Stanley Subsequent Degree Fund. “We’re happy to be partnering with Hearst, Microsoft and Walmart on this thrilling new initiative which advances our respective corporations’ targets to advertise monetary inclusion and entry to capital for girls and various founders. Portfolio corporations will profit not solely from the capital offered from the Fund, but additionally from entry to the worldwide sources and capabilities of every of our company companions.”

“Hearst is delighted to companion with Morgan Stanley, Microsoft and Walmart within the Subsequent Degree Fund and to have the chance to help goal corporations and supply strategic help. This additional augments our dedication to investing in ladies and various founders who’re a few of our greatest expertise,” stated Eve Burton, Government Vice President, Hearst, and Chairwoman of HearstLab. Ms. Burton might be a member of Subsequent Degree’s Advisory Board.

Tahreem Kampton, Treasurer of Microsoft Company added, “We’re happy to companion and help Morgan Stanley and the Subsequent Degree Fund to assist present alternative and entry to capital, particularly in various and underrepresented communities, with the objective of driving constructive influence by way of know-how.”

“The Subsequent Degree Fund gives a novel alternative to help ladies and various companies by rising entry to capital and providing strategic help,” stated Wayne Hamilton, Vice President, Specialty Tax, and Finance Shared Worth Community lead, Walmart. “Walmart is deeply dedicated to fostering range, fairness and inclusion within the communities we serve. We’re leveraging this work by way of 4 Shared Worth Networks we launched final yr to advance racial fairness at scale. Inside our Monetary Shared Worth Community, we’re supporting extra various suppliers to extend entry to capital for girls and folks of shade. We’re delighted to be working with Morgan Stanley and our co-inaugural traders on this vital initiative.”

“We’re happy to broaden our impact-oriented consumer choices with the addition of Subsequent Degree, and we’re proud to companion with like-minded corporations that share our dedication to delivering constructive social influence by way of compelling funding alternatives,” stated David N. Miller, Head of Non-public Credit score and Fairness, Morgan Stanley Funding Administration. “Our differentiated method may help to extend entry to capital for girls and various founders in our goal sectors.”

The Subsequent Degree Fund relies and operated out of Morgan Stanley’s New York headquarters. Debevoise & Plimpton has been retained as counsel for the Fund.

About Morgan Stanley Funding Administration

Morgan Stanley Funding Administration, along with its funding advisory associates, has greater than 730 funding professionals around the globe and $1.4 trillion in belongings beneath administration or supervision as of March 31, 2021. Morgan Stanley Funding Administration strives to supply excellent long-term funding efficiency, service and a complete suite of funding administration options to a various consumer base, which incorporates governments, establishments, firms and people worldwide. For additional details about Morgan Stanley Funding Administration, please go to www.morganstanley.com/im.

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a number one world monetary providers agency offering funding banking, securities, wealth administration and funding administration providers. With places of work in additional than 41 nations, the Agency’s workers serve shoppers worldwide together with firms, governments, establishments and people. For extra details about Morgan Stanley, please go to www.morganstanley.com.

Morgan Stanley Launches Subsequent Degree Fund in Partnership with Hearst, Microsoft and Walmart to Spend money on Numerous Begin-Ups

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