An upstart financial firm backed by Peter Thiel and Bill Ackman has a message for American corporations: Focus on making money, not taking stands.

Vivek Ramaswamy, who made his fortune in pharmaceutical startups before writing a book last year called Woke, Inc. says he has raised $20m to start a fund manager that would urge companies not to wade into hot-button social or environmental issues. Thiel invested both personally and through his Founders Fund, joined by Palantir Technologies co-founder Joe Lonsdale and other venture investors.