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Betterment forays into crypto space with Makara acquisition

US-based robo-adviser Betterment has acquired cryptocurrency portfolio provider Makara, marking its entry to the cryptocurrency segment.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

The deal, whose financial terms were not revealed, is expected to conclude later this quarter. Following the transaction, Makara’s team of crypto experts and engineering talent will join Betterment.

Makara provides automated cryptocurrency portfolios and education to a group of diverse range of investors. The firm allows investors to gain passive exposure to a number of vetted cryptocurrencies through its thematic baskets that are personalised to meet different investment goals and interests.

The deal will help Betterment provide consumers and financial advisers the ability to invest in multiple crypto portfolios besides their existing investments.

Furthermore, the addition of Makara’s offerings will help the firm expand its product suite and platform.

Betterment CEO Sarah Levy said: “Makara is unique in offering consumers managed crypto portfolios combined with the guidance and ease-of-use that have defined Betterment. Makara is to crypto today what we are to traditional investing, since pioneering robo-investing a decade ago.”

Makara co-founder and CEO Jesse Proudman added: “Combining our crypto expertise with Betterment’s scale will accelerate the growth of the platform with both retail investors and financial advisors.”

Betterment provides cash management, guided investing, and retirement planning to its customers. The latest deal follows the company’s $160m Series F fundraising round in September last year.

Last March, the firm acquired Canadian rival Wealthsimple’s US investment advisory book of business, adding nearly $190m in assets and 17,000 customers to its business.

In 2017, the firm launched a custom portfolio strategy to help retail investors better control their allocations.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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