Thursday, June 26, 2008

XShares Group is innovative exchange traded funds has received additional financing in excess of $15 million

What Company Is Offering:
XShares Group LLC is a holding company of XShares Advisors LLC, a registered investment advisor, designer and sponsor of U.S.-listed ETFs, and XShares Securities LLC, a registered broker-dealer. The company also partners with leading financial services firms and index providers to develop and launch innovative ETFs. This flexible approach to product development allows XShares Advisors to introduce novel ETFs based on in-house intellectual property, while also creating private-label opportunities for firms seeking to enter the fast-growing ETF marketplace. All XShares ETFs trade on NYSE Arca.

How Much They Got From VCs:

XShares Group LLC, an industry leader in developing precisely focused, innovative exchange traded funds (ETFs), announced that it has received additional financing in excess of $15 million from a group of European institutional investors. The new funds will be used for developing and introducing new exchange traded products, as well as for working capital.

With the receipt of the financing, the Company also announced that Joseph L. Schocken, currently a member of XShares Board of Managers, has been named Chairman and Interim Chief Executive Officer of XShares Group and William P. Henson, the current CEO of XShares Group, will return full-time to Grail Partners, a founding investor of the Company, where he is a partner. Jeffrey L. Feldman, a member of the Board of Managers, will continue in his management role and has also been granted the title of Founder and Chief Strategist.

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