Investing in tech based, export oriented manufacturing companies, to create clean jobs of the future in underserved and LMI communities, intentionally including women and POC (people of color) 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 POC 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.

Investment Models

Direct equity investments with clear exit possibilities

Interest bearing loans with equity options

Revenue Share Loans 
Loans with revenue sharing and exit options

Investment Criteria

The 22 will partner with owner/operators and existing management teams and will typically acquire minority ownership positions in companies that have many of the following attributes:

  • EBITDA of ≥ $1MM    
  • Growth stage with commercialized products
  • Management team with industry expertise
  • POC 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

Passionate about social equity in finance. Decades of experience in engineering, international business, venture capital and economic development.

Monica Dodi 

Pioneer in the field of Venture Capital for women. Founder of Women’s Venture Capital Fund – the first of its kind. International entrepreneur in multiple sectors.

Rajan Kasetty 

Engineer with decades of international and M&A experience as an Entrepreneur/CEO in manufacturing, engineering, energy, IT, etc. Startup advisor and mentor.

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