We invest in tech based manufacturing companies to increase their international sales (exports), creating clean, quality jobs of the future in the U.S.
We intentionally include women and BIPOC led firms to deliver both high ROI and social/economic impact.

A Virtuous Cycle

Manufacturing and exporting companies have higher survival rates and greater resiliency.  Yet they find it hard to grow and scale due to financial constraints. The U.S. Small Business Administration and the World Bank call it the “equity gap”.  The 22 specifically addresses this long felt and rarely addressed need, which also is a risk-mitigated investment opportunity with high ROI.

Women and BIPOC (Black, Indigenous, People of Color) owned/managed businesses have also proven to be better managed and more profitable. These businesses too have been disadvantaged due to the “equity gap”. The 22 intentionally invests in these companies.

Virtuous Cycle

Investment Models


Convertible Notes 

Revenue Share Financing

Investment Criteria

The 22 invests in women and BIPOC owned manufacturing and exporting/export-ready
companies in the USA, that have many of the following attributes:

  • Cash flow positive    
  • Growth stage with commercialized products
  • Management team with industry expertise
  • BIPOC and/or women-owned businesses
  • Recurring revenue and/or long customer lifecycle
  • Operations based in LMI areas
  • Low technology risk
  • High growth industries
  • Defensible market positions
  • Profitable operating histories
  • Proprietary concepts/brands/tech

Portfolio Companies


Tracy Gray 
Founder & Managing Partner

Recognized multifaceted leader in social and economic equity in finance. Extensive domain expertise in international business and export promotion, impact investing, economic development policy and technology.  Advisor in cleantech business strategy

Monica Dodi 

Pioneer growing/operating in global industries in engineering databases, telecom/media/internet, consumer product and venture capital. Founder of Women’s Venture Capital Fund – the first of its kind.

Rajan Kasetty 

Entrepreneur/CEO in manufacturing,
engineering design, energy, cleantech, IT and automation, in multiple geographies. 
Advisor/mentor board director in startup and growth stage companies.

Strategic Partners

The 22 has strategic relationships with international firms to guarantee that The 22’s portfolio companies will have strong, local, in-market agents around the globe.

©  The 22 Fund