Fundraising Fox

The 22 Fund

Impact investor

Growth · 6 people tracked

Fox Verdict
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Investment thesis

The 22 Fund targets the 'equity gap' facing U.S. manufacturing and exporting companies, which show higher survival rates and resilience but struggle to scale due to financial constraints. It intentionally invests in women- and BIPOC-owned/managed clean-tech manufacturing firms that are export-ready, aiming to deliver high risk-mitigated returns while creating quality jobs and advancing social and economic impact. Target companies are typically growth-stage with commercialized products, experienced management, proprietary technology or brands, operations in low-and-moderate-income areas, low technology risk, defensible market positions, and profitable operating histories.

Source: firm website, verified Aug 11, 2026.

Stage
Growth
Leads rounds
Follows
Instruments
Equity · Debt

Team · 6 people

from the firm's website
Tracy Gray· Founder & Managing Partnerin
Sara Vaillancourt· Executive Assistantin

Frequently asked questions

What stage does The 22 Fund invest at?
The 22 Fund invests at the Growth stage.
What sectors does The 22 Fund focus on?
The 22 Fund focuses on Advanced Manufacturing, Cleantech, Climate Tech, Deep Tech, Energy, Hardware, Impact & Social Good, New Materials.
Does The 22 Fund lead rounds?
The 22 Fund typically participates in rounds rather than leading them.

Media · Podcasts & interviews

featuring the team

#OHUBNext Masterclass: The 22 Fund's Tracy Gray - YouTube

Opportunity Hub · Tracy Gray

Podcast E010 | Tracy Gray of The 22 Fund - YouTube

Female VC Lab · Tracy Gray

Tracy Gray --The 22 Fund - YouTube

LA Venture · Tracy Gray

Images

The 22 Fund photoThe 22 Fund photo

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