BondBloxx Investment Management, a Larkspur, CA-based provider of bond ETFs, has successfully raised $27m in funding.
According to FinSMEs, this financial injection was spearheaded by Macquarie Asset Management, which continues to hold a minority stake in the company. The funding round also saw participation from a mix of new and existing financial investors.
As an issuer focused exclusively on fixed income, BondBloxx offers a diversified portfolio of ETFs. These include exposures to U.S. Treasuries, investment grade, high yield, tax-aware strategies, and emerging markets bonds. This specialised approach positions BondBloxx uniquely in the ETF market.
The capital will be used to fuel further expansion of the company’s operations and development efforts. BondBloxx is building on its impressive growth trajectory, having launched its first ETFs in February 2022. Since then, it has quickly become one of the fastest-growing independent ETF providers, boasting over $3.4 billion in assets across 24 bond funds.
In a significant move to innovate within the ETF space, BondBloxx filed in September for approval to launch a groundbreaking private credit CLO ETF. This new fund will be sub-advised by Macquarie Asset Management, further strengthening the partnership between the two entities.
BondBloxx Founder and CEO Leland Clemons commented on the funding, “This investment not only supports our current growth but also enables us to pursue ambitious new projects that will enhance our offerings and meet the evolving needs of our investors.”
Previously, BondBloxx has made notable strides in the ETF market since its inception, marked by a series of successful fund launches and rapid asset accumulation, reflecting strong investor confidence and market demand.
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