Titan’s journey began with a question. Why are two different menus offered to investors? If you're an everyday person, you are given one menu - passive ETFs, mutual funds, the usual. If you are ultra wealthy, you get access to a different one, an elite one - hedge funds, venture capital, private equity, and more.
Today we're thrilled to announce a major milestone along our journey to tackle this question.
Titan has raised a $12.5M Series A financing led by venture capital firm General Catalyst, bringing our total funding to $16M. We're so excited to welcome the entire General Catalyst team to the Titan family and have Katherine Boyle join our Board. Other partners we're excited to have joining this round include Ashton Kutcher and Guy Oseary’s Sound Ventures, Scribble VC, BoxGroup, Y Combinator, South Park Commons, Lee Fixel, Instagram founder Mike Krieger, Eventbrite founder Kevin Hartz, and others.
The menu problem is the elephant in the room in consumer finance. Technology has sent shockwaves throughout many consumer finance categories - from banking to brokerage - but investment management remains stubbornly behind. Despite over $500 billion in public market capitalization and the financial well-being of millions of Americans at stake, the industry is still ruled by legacy giants like Fidelity, BlackRock, and T. Rowe Price. No modern platform has yet to emerge.
Titan is taking the torch and building the operating system that will power active investment management for future generations of investors. But this time, we can offer both sets of menus.
To put our journey into context, we look to history. Recall that Fidelity, now worth over $100 billion in enterprise value, was born during the Great Depression. The Fidelity Fund was launched to help smaller investors and pioneered investor communications through regular updates via postal mail. 32 years later, Fidelity would cross their first billion of assets under management.
Titan, in a sense, was born during the Great Pandemic. Last year we grew assets by 600%. We’ve pioneered investor communications via our mobile operating system, setting a new standard for the industry. But indicative of the power of technology, we're expecting to cross $1 billion in assets this year, less than 4 years since launch - an order of magnitude faster than Fidelity.
We hope to take this industry out of the Stone Age. The status quo of active investment management platforms is a combination of exorbitant minimums and black-box experiences (e.g., a 90-page prospectus). Even if you're ultra wealthy, the best you can get is a quarterly call with an underlying investment manager. We've upended this entire experience.
8 out of every 10 clients engage with Titan in some form each week. This is because clients - whether they have $1,000 with us or $100,000 with us - are treated like they have $10 million with us. Technology enables us to do things for everyone that previously were only limited to a very, very select few.
This engagement has been exceptionally important for our clients during the pandemic. They counted on us to explain the historic market collapse in March 2020; a period during which we had 99% client retention. They counted on us to identify and invest in under-the-radar businesses in a work-from-home world via our Titan Opportunities strategy. They recently counted on us to defend a portfolio company from a hostile takeover. In every scenario, Titan delivered.
We're truly just getting started. With this Series A capital, we're accelerating our plans to give to everyday investors, big and small, the crème de la crème of investment management. We understand our place in history - it’s our duty to carry the torch of investing, established by iconic American giants, for decades to come.
Max, Clay, Joe
Titan Global Capital Management USA LLC (“Titan”) is an SEC registered investment adviser. The information contained herein is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities. In addition, nothing contained herein is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections, are hypothetical in nature and may not reflect actual future performance. The statements, opinions and analyses presented herein generally are provided as general information. While all the information prepared in this presentation is believed to be accurate, Titan makes no express guarantee as to the completeness or accuracy of, nor can it accept any responsibility for errors appearing in, the presentation. This presentation contains certain “forward-looking statements,” which may be identified by the use of such words as “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” “potential” and other similar terms. Examples of forward-looking statements include, without limitation, estimates with respect to financial condition, market developments, and the success or lack of success of particular investments (and may include such words as “crash” or “collapse”). All are subject to various factors, including, without limitation, general and local economic conditions, changing levels of competition within certain industries and markets, changes in interest rates, changes in legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors that could cause actual results to differ materially from projected results.
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