Morgan Stanley Investment Management (MSIM) announced the successful closing of the Morgan Stanley Next Level Fund, L.P. ("Next Level" or the "Fund") at $50 million in total capital commitments. The fund is specifically designed to invest in early-stage technology and technology-enabled companies, with a particular emphasis on those that have underrepresented members on their founding teams.

The Next Level Fund has seen considerable support from various industries. The Next Level Fund has garnered investments from inaugural corporate partners such as Hearst, Microsoft, and Walmart, along with contributions from Altria, Ten Figures Ventures, and Phalanx Impact Partners. A quarter of the capital from the Next Level Fund has been invested across nine companies, with support extended to HourWork, a SaaS platform transforming hourly work and the gig economy by aligning employer demand with certified, skilled workers. Another recipient of Series A funding is Bodily, founded by Tovah Haim, offering information and products to support women from pregnancy to postpartum and those experiencing pregnancy loss, according to a press release by Morgan Stanley.

Alice Vilma expressed her views on how this initiative could influence entrepreneurship positively. According to a press release by Morgan Stanley, Alice Vilma, Co-Portfolio Manager of the Morgan Stanley Next Level Fund said: "There is an immense opportunity to provide overlooked entrepreneurs with much-needed capital and resources to help them succeed. With the support of our corporate partners, we are committed to driving a more equitable funding landscape for promising startups."

Additionally David N. Miller also shared his perspectives on this investment approach. "We are pleased to increase access to capital for underrepresented founders in our target sectors and we are proud to partner with like-minded companies that share our commitment to closing the early-stage funding gap," said David N. Miller, Managing Director and Head of Morgan Stanley Private Credit & Equity, according to a press release by Morgan Stanley. "In addition to providing capital, our differentiated investment approach alongside our fund partners’ strategic expertise seeks to improve financial and operational outcomes for our portfolio companies."