- HANetf expects to support more than 100 ETFs in the next 5-7 years
- Recent acquisitions of Source and ETF Securities’ ETF business leaves HANetf as Europe’s only independent ETF white label provider
- E&Y ETF survey expect that most asset managers will have an ETF in the next 5 years with ETF AUM expected to double over the same period
HANetf Limited (“HANetf”), Europe’s first independent full services third-party provider of UCITS Exchange Traded Funds (ETFs), has completed a seed funding round which was significantly oversubscribed.
HANetf will provide a turnkey solution for the growing number of US and Asian ETF issuers and traditional asset managers seeking to enter the ETF market in Europe, through an innovative platform which offers services including product development, compliance, operations, capital markets, sales, marketing and distribution.
HANetf has been founded by Hector McNeil and Nik Bienkowski, who are among Europe’s leading ETF entrepreneurs. The pair helped found and establish ETF Securities before founding and launching Boost ETP, which later became WisdomTree Europe – which they led until May 2016 – following its acquisition by WisdomTree in 2014.
Between those three firms, the founders of HANetf have built almost every type of exchange traded product conceivable including: ETFs and ETPs, physical and synthetic, smart beta, equities, fixed income, commodities, leveraged and unleveraged.
This funding support from HANetf’s new shareholders will enable the company to aggressively grow its business across platform development, staff, client acquisition and marketing.
“Our goal is to become a new force in ETF innovation in Europe by helping clients enter the space efficiently and without having to commit to running full-scale ETF businesses, thus significantly lowering barriers to entry,” said Hector McNeil, Founder and Co-CEO of HANetf.
“With the recent acquisitions of Source by Invesco and Canvass by LGIM, HANetf will be the only independent provider in Europe focused on launching ETFs for third-party asset managers. The success and purchase of both businesses reinforces the demand for innovative, cost and time efficient solutions for asset managers seeking to enter the European ETF market.”
Nik Bienkowski, Founder and Co-CEO of HANetf added: “Since creating the concept, we have made significant progress toward setting up our platform to be open for business and this round of funding will help us rapidly scale the business and onboard clients.
“We believe that every asset manager needs an ETF product strategy and some form of ETF offering within the next five years. As a result, HANetf expects to support more than 100 ETFs in the next 5-7 years. After helping to bring numerous investment products to investors for the first time, HANetf is now looking forward to assisting the next wave of asset managers to issue new and innovative ETFs.”
Key investors in the funding round for HANetf include Peter Thompson, co-founder of Source ETF; Point72 Ventures, the early-stage venture capital strategy funded by Steve Cohen; and Elkstone, a European Multi-Family Office with a significant heritage in early-stage venture investment.
FinRes provided corporate finance advice on the funding round, and Irwin Mitchell provided legal advice.