Titan raises $58 million, with the Gen Z and Millennial-focused asset manager backed by big names like Will Smith and Kevin Durant
- Titan, the startup angling to be the active manager for a new generation of investors, raised $58 million.
Titanhas sought a role as the "premier" asset manager for Millenials and Gen Zs.
- Titan's take on active investing is to combine a core equity portfolio of around 20 stocks, hedged for customers' unique risk appetite.
Titan, the startup angling to be the active manager for a new generation of investors, raised $58 million in a star-studded funding round that valued the company at $450 million, the company said in a statement.
The funding round, led by Andreessen Horowitz, featured a cast of celebrities, including
Titan has sought a role as the "premier" asset manager for Millenials and
Titan's take on active investing is to combine a core equity portfolio of 20-some stocks with a hedge against losses, where the size of the hedge is personalized to users' risk profiles. For example, Titan's large-cap fund will allocate between 0-20% of the portfolio to an inverse S&P 500 ETF, depending on market conditions and user risk tolerance.
Two of Titan's three funds, large cap and small-to-mid cap, have beat the market since their inception. But the company's international fund, launched in April, fell well short of its benchmark, returning a cumulative 1.7% where the market yielded 4.3%.
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