Jovian buys into Aussie ETF firm

Jovian Capital is hoping to transform Horizons BetaPro a global player in the ETF marketplace.

The company and its subsidiary BetaPro Management Inc. have completed an equity investment in BetaShares Holdings Pty Ltd., a private Australian holding company. BetaPro is the manager of the Horizons BetaPro exchange traded funds.

Jovian has bought a 40% equity stake in BetaShares Holdings for a total subscription price of up to $4.5 million (Australian dollars), if certain milestones are met. BetaPro has also been granted options to acquire additional equity in BetaShares Holdings over time and representation on the board.

“The ETF industry in Australia is still young, and growing, and we feel that there is huge potential for BetaShares to become a significant provider of ETF products in that market,” said Philip Armstrong, C.E.O. of Jovian.