Chinese Firm Invests In RevenueShares

Indexuniverse.com 22 May 2013
RevenueShares, the ETF provider with a six-fund lineup of revenue-weighted strategies, has partnered up with a China-based venture capitalist firm in a deal that looks to not only help the ETF sponsor expand its footprint in the U.S., but also to plant the seeds of ETF development in China.
Suzhou Industrial Park Kaida Venture Capital—a Chinese private equity firm specializing in funding high-tech and financial companies across China—is paying $7 million for a 22 percent stake in VTL Associates, RevenueShares’ parent company, VTL’s Chairman Vince Lowry told IndexUniverse.
The deal really serves a twofold purpose: The money is designated primarily to boost RevenueShares’ marketing and sales efforts—something the company has done very little of in the past two years or so, Lowry said. RevenueShares launched its first ETFs five year ago.
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