Angels can come from anywhere.
, an ETF shop with six revenue-weighted products, has partnered with Suzhou Industrial Park Kaida Venture Capital
— a Chinese private equity firm specializing in funding high-tech and financial companies across China — according to IndexUniverse
The trade publication reports that the Chinese PE firm has paid $7 million for a 22 percent stake in VTL Associates
, RevenueShares’ parent company.
The pub posits that there are two purposes behind the move: firstly, to bolster RevenueShares’ marketing and sales efforts—"something the company has done very little of in the past two years or so" according to the publication.
notes, VTL’s willingness to give Suzhou a stake demonstrates RevenueShares' interest in bringing its products to China. The pub notes that the ETF market in this country "is barely in its infancy."
Read more about the move, including interviews with VTL’s Chairman Vince Lowry
, in IndexUniverse
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