Titan Raises $58M Series B Led by a16z to Build the Modern Asset-Management Giant
Titan, the new-guard investment platform bringing premier investment management to the everyday investor, today announced it has closed $58M in Series B fundraising led by Andreessen Horowitz (a16z), with participation from existing investors including General Catalyst, BoxGroup, and Ashton Kutcher's Sound Ventures. The round also features participation from an all-star line-up of pro athletes and celebrities, including Kevin Durant, Odell Beckham Jr., Jared Leto and Will Smith. Anish Acharya, a16z General Partner, will be joining Titan's Board. To date, Titan has raised $75M to support their mission to lead the world to better wealth. The funds will be used to make significant strides in building out Titan's underlying platform and suite of investment products, alongside scaling core functional teams.
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Titan Raises $58M Series B Led by a16z to Build the Modern Asset-Management Giant (Photo: Business Wire)
What Fidelity and its iconic mutual funds were for baby boomers, Titan is for new generations of investors. Titan is the first DTC, mobile-first investment platform where everyday investors, irrespective of wealth, can have their capital actively-managed by investment experts in long-term strategies. Like investment giants before it, the initial strategies on Titan's platform are predominantly in stocks (for instance, its large cap growth strategy called "Flagship" aims to be a modern version of the revered Magellan (News - Alert) Fund). But the platform is quickly expanding into other asse classes, entering new territory where legacy players have yet to tread.
"There's been a reawakening of active investing. But traditional investment management vehicles remain the tech-equivalents of VHS tapes. The industry needs a new operating system," said Joe Percoco, co-founder and co-CEO.
Titan is hitting this untapped nerve. The platform grew by 500% in the last 12 months, largely organically, as everyday investors flocked to the platform looking for active investment management without having to do it themselves. Titan is expecting to cross its first billion in assets under management later this year, just over three years after launch.
"Technology has sent shockwaves throughout many consumer finance categories, but investment management remains stubbornly behind. The absence of a modern asset management platform is a significant void. The long-term financial health of new generations remains at risk without it," said Clay Gardner, co-founder and co-CEO.
"Titan is leading the way as investing gets re-invented for the millennial and Gen Z generations. Active investing is back, and audiences want transparency into investing decisions and the opportunity to learn," said Anish Acharya, a16z General Partner. "Since first meeting the Titan team last year, we've consistently been impressed by their product vision for the category, their best in class execution, and their highly ambitious team."
Titan's cryptocurrency offering, which launches soon, will be the first and only actively managed portfolio of cryptocurrency assets available to U.S. investors*. The strategy seeks to invest in a concentrated basket of crypto assets that can outperform over a long-term time horizon. It is actively-managed by Titan's in-house crypto investing team. For more information, visit https://www.titan.com/crypto/.
*At launch, Titan Crypto will be available to all U.S. residents except those with home addresses in New York. Access for NY-based residents will be provided once Titan's custodial partner receives regulatory approval for the State's jurisdiction.
HOW TITAN WORKS
Investing through Titan is easy. After a quick sign-up, clients choose to place their capital in one or more of Titan's current investment strategies, including Flagship (large U.S.-based companies), Opportunities (small and mid-size U.S.-based companies), Offshore (international companies), and Crypto (concentrated basket of crypto assets). Titan's minimum investment is $100, and both accredited and non-accredited investors can join. There are zero performance-based fees and no lock-ups. Each strategy is rigorously actively-managed by Titan's in-house investment team. Titan clients also own the underlying fractional shares of the businesses in each investment strategy, offering greater flexibility when compared to pooled vehicles like hedge funds and mutual funds. To sign up, download the Titan app everywhere apps are found.
Titan is the new-guard investment platform bringing premier investment management to the everyday investor, seeking to rival giants Fidelity and BlackRock. Based in downtown Manhattan, Titan was founded by Clayton Gardner, Maxwell Bernardy, and Joe Percoco. Similar to the mutual fund platforms of the past, Titan has a fleet of open-access actively-managed strategies. Unlike legacy players, Titan is mobile-first, enabling investors to have an investment experience directly with the end investment managers. Titan's mission is to lead the world to better wealth and be the investing authority for its generation. Check out Titan at www.titan.com.