BetaShares secures strategic investment from TA Associates
BetaShares has received a significant investment from TA Associates, a global growth private equity firm, to fuel a major expansion of its business activities. Financial terms of the transaction have not been disclosed.
BetaShares develops, launches and manages ETFs that are traded on the Australian Securities Exchange (ASX). BetaShares offers one of the country’s largest and most diverse range of ETFs, with funds covering Australian and international shares, fixed income, cash, currencies, commodities and alternative strategies.
“We are excited to welcome TA as an investor as we enter this next phase of our growth,” says Alex Vynokur, Founder and Chief Executive Officer of BetaShares. “Over the past 10 years, BetaShares has developed a market-leading position in the Australian ETF industry, helping democratise investing by expanding choice, lowering costs and making quality investments more accessible than ever before. Looking at the decade ahead, we have a vision for the company to continue developing into a leading, independent Australian financial services business, offering a wide range of quality solutions to help our clients reach their financial goals.”
As part of the transaction, TA has acquired the shares held by Mirae Asset Financial Group and other minority investors in BetaShares.
“We would like to take this opportunity to thank the team at Mirae Asset Financial Group and, in particular, Founder and Global Investment Strategy Officer, Hyeon Joo Park, for their support and confidence in our business over the years,” adds Vynokur. “We are proud to have made a contribution to the impressive growth of Mirae Asset Financial Group.”
“TA has a long history of investing in the financial services industry, having previously supported the growth of a number of leading asset management firms globally, and we are honoured to have the opportunity to invest in BetaShares to help further the success of this great business,” says Edward Sippel, head of TA Associates Asia Pacific Ltd and a Managing Director at TA.
“We believe that BetaShares’ sharp focus positions it to take advantage of significant opportunities in the market, particularly as the broader financial services industry is undergoing a period of disruption and change. We look forward to partnering with BetaShares’ management team to help further accelerate the company’s growth by leveraging its existing, highly-regarded offering, expanding its product depth, and enhancing its geographic footprint through acquisitions and strategic investments.”
Vynokur says: “This is an important milestone for BetaShares. We believe that the next stage of growth in our business is set to provide tremendous opportunities for our clients, our team and our industry partners.”