AMP backed fintech startup Macrovue completes funding round

Macrovue, an investment service backed by AMP, today announced that it has concluded a funding round of approximately $1.25m and has appointed James Goodwin, previously the Joint Managing Director of Arena Investment Management to its Board.

Macrovue is an online investment platform that uses in-house research to construct theme-based equity portfolios, giving Australians a unique and easy route to holding domestic and international investments. It’s best performing portfolios of the past year have been “Social Media” and “Luxury Goods”.

The oversubscribed funding round included AMP, James Goodwin, Inception Asset Management and other high net-worth investors.

Macrovue has experienced rapid growth since being launched in September 2016 with its funds under administration growing at an average of 65% month-over-month.  Growth has come from both retail clients and financial advisers. Amongst retail clients, the “Water Scarcity” theme has been most popular, with “Silver Haired Economy” another favourite.

“We have a built an easy to use platform for investors who are looking to move away from high fees and the lack of transparency and control of managed funds and administration platforms. We will also soon be offering domestic portfolios so that clients can get access to a broad range of choices to suit their needs”, said Sid Sahgal, the CEO of Macrovue.

As part of the funding round, James Goodwin will be joining the board. Brendan Foley, Non-Executive Chairman of Macrovue, said “James will add his wealth of knowledge and network in financial services and funds management to Macrovue and we are excited to have him on board. Macrovue is entering a growth phase as it develops its distribution relationships through partners, the first being with SuperConcepts, Australia’s leading SMSF service provider.”