Betashares, an Australian financial services company, has on Monday announced it has entered into a binding agreement with Temasek, a global investment company headquartered in Singapore, for Temasek to invest up to AUD 300 million ($198M) in Betashares.

Post completion, Temasek will hold a minority shareholding in Betashares, joining Betashares staff members and TA Associates as shareholders, Betashares said in a statement.

The investment from Temasek follows a period of strong growth for Betashares, as the firm executes on a long-term vision to build a leading, independent financial services business, offering a wide range of quality solutions to help Australians reach their financial goals.

Over the past three years, Betashares has continued its strong organic growth trajectory, now managing over AUD 38 billion ($25 billion) on behalf of over one million investors, financial advisers and institutions across its range of exchange-traded fund (ETFs) after receiving the highest level of inflows amongst all ETF managers in Australia in 2023.

During the same period, Betashares also launched Betashares Direct, an innovative retail investment platform, to assist self-directed investors in building long-term wealth, and announced its intention to move into the Australian superannuation industry.

As Betashares expands into new products and services, it continues to be guided by its core principles: simplicity, cost-effectiveness and transparency, with the goal of making investing more accessible and affordable for investors.

“Since founding the business 14 years ago, we have developed a leading position in Australia’s ETF industry,

“We have worked hard to expand the range of high-quality investment solutions available to investors and their financial advisers, democratized access to wealth creation opportunities for our clients, and improved the range of genuine educational content, emphasizing the power of long-term investing,” said Alex Vynokur, Betashares Founder and Chief Executive Officer.

Looking ahead, he said the firm is focused on realizing its vision by harnessing its passion for innovation and expanding our presence across more products, services, and international markets.

According to the statement, Temasek is a generational investor with a long-term investment horizon, which is strongly aligned with Betashares’ pursuit of long-term value creation for clients, employees, industry partners and shareholders.

Temasek owns and manages $287 billion in assets as of March 31, 2023.

“The investment by Temasek will help accelerate the next phase of our journey, both organically as well as through acquisitions and strategic investments,

“We’re excited by the opportunity in front of us,” Vynokur concluded.

Temasek led $208M equity investment in German radiopharmaceutical biotech firm ITM