Factbox-Christian tech platform Gloo’s IPO puts spotlight on faith-based investing

(Reuters) -Gloo Holdings made its debut on the Nasdaq this week, putting fresh focus on faith-based investing, a small but growing segment where investors choose companies ​that reflect their religious values.

Industry analysts say demand for faith-aligned products has ‌risen since Republican Donald Trump returned to the White House, as conservative investors look for portfolios aligned with their values.

A report by investment ‌advisory firm Brightlight estimates that the faith-based investing market is worth over $130 billion, with 231 products and strategies managed by 27 different managers.

Meanwhile, Sharia-compliant investment products are widely used across the Middle East, where many investors prefer portfolios that follow Islamic principles and avoid interest-based or sectors prohibited by the Muslim faith.

RECENT GLOBAL FAITH-⁠BASED LISTINGS:

** Christian-‌focused tech platform Gloo was valued at $586 million as its shares opened flat in their Nasdaq debut earlier this week. Founded in 2013, it provides AI-powered tools ‍and content to more than 140,000 faith, ministry and nonprofit leaders.

** Angel Studios, which has built a portfolio of values- and faith-based movies, including the religious thriller “Sound of Freedom,” closed ​a special purpose acquisition deal valued at $1.6 billion in September.

A SPAC deal involves a publicly listed shell ‌company acquiring a private business, allowing the target to go public by merging with the SPAC rather than pursuing a traditional IPO.

** Pakistan’s Lucky Investments raised $170 million in a Shariah-compliant money-market fund initial public offering in April, signalling strong demand for Islamic-finance aligned investments.

NOTABLE FAITH-BASED U.S. INVESTMENT VEHICLES:

** Global X S&P 500 Christian Values ⁠ETF: The exchange-traded fund seeks to track the performance ​of U.S. equities that it says maintain alignment with moral ​and biblical teachings of Christians.

** Inspire Investing: The firm describes itself as the world’s largest faith-based ETF provider and runs the Inspire 100 ETF, which invests ‍in “biblically aligned large ⁠companies” in the United States.

** Ave Maria Mutual Funds: The company says it offers a line-up of seven mutual funds for both institutional and individual investors. It excludes companies that ⁠”violate core Catholic teachings.”

** Sources: LSEG Workspace, Reuters’ reporting, brokerage research reports

** Note:‌ The list is not exhaustive

(Reporting ‌by Manya Saini in Bengaluru; Editing by Tasim Zahid)