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

Direct equity investments with clear exit possibilities

Subordinated Debt 
With equity options

Revenue Share 
Investment with revenue sharing

Investment Criteria

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

  • EBITDA of ≥ $1MM    
  • 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


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.

TMP Riedel Advisors is a boutique merchant bank focused exclusively on global emerging and frontier markets.TMP Riedel Advisors has over 30 analysts in 15 countries as well as an expert network of over 40,000 professionals. As result, TMP provides The 22 with emerging market trends and market research capabilities in addition to opportunities to identify strategic partners for portfolio companies in Eastern Europe and Africa.

Business Development Partners specializes in helping companies that are expanding or new to exporting do business in Mexico and Central America.

MFCS is a strategic business development firm, which assists growth stage and large multinational companies expand their business operations into Chile and Latin America.

Bridge Technology Capital invests in and helps early stage U.S. venture-backed technology companies establish and grow in the Middle East, Africa and Asia (MEAA) region and assures their MEAA based entities are well governed.

Bridge Innovation Capital partners with foreign SMEs, investing capital and establishing local marketing, production, sales and R&D in China and Western Europe. Bridge Technology Capital invests in and helps early stage U.S. venture-backed technology companies establish and grow in the Middle East, Africa and Asia (MEAA) region and assures their MEAA based entities are well governed.

©  The 22 Fund