Titan raises $ 58 million, backed by big names like Will Smith and Kevin Durant with the help of General Z and Millennial Focus Asset Manager.
- Angling, who started Titan to become an active manager for a new generation of investors, raised 58 58 million.
- Titan has sought a role as the “premier” asset manager for Millennials and General Zs.
- Titan’s advantage over active investment is to accumulate a core equity portfolio of approximately 20 stocks, which curbs the unique risk appetite of consumers.
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Titan, the startup that started out as an active manager for a new generation of investors, raised $ 58 million in a star-studded round of funding that valued the company at 4 450 million, the company said in a statement.
The Funds Round, led by Anderson Harwotz, featured a cast of celebrities, including Will Smith, Jared Leto and Kevin Durant. Co-founder Joe Percoco told Bloomberg that with about 30,000 clients, Titan manages 500 million in assets, which should hit 1 billion this year.
Titan is looking for a role as the “premier” asset manager for Millennials and GeneralZ investors, positioning himself as a fidelity or blackrock for a young teenager. Its founders talk of democratizing access to managed departments. The company is the first in mobile and has a 100 minimum investment threshold, which compares favorably with Robin Hood.
Unlike Robin Hood, Titan customers don’t need to take stock – instead of deferring in-house investment strategies quick, which means instant, 90-second video Is. Unlike Robin Hood, Titan charges a fee for its active management services: at least لئے 10,000 for small customers or 1% of account value for investors with 5 per month.
Titan’s active investment aims to link the core equity portfolio of 20-some stocks to a hedge against a deficit, where the size of the hedge is specified with consumer risk profiles. For example, Titan’s Large Cap Fund will allocate between 0-20% of the portfolio in an upside S&P 500 ETF, depending on market conditions and user risk tolerance.
Two of Titan’s three funds, the big cap and the small mid cap, have beaten the market since its inception. But the company’s international fund, which began in April, fell far short of its standard, with a total return of 1.7%, with the market producing 4.3%.