US-based State Street Global Advisors (SSGA), the asset management division of State Street Corporation, has established a strategic relationship with smallcase, a provider of model portfolios and investment platforms in India’s capital markets.
This partnership, marking SSGA’s first investment in India’s asset and wealth management sector, followed its recent investment in smallcase, as part of the fintech’s $50 million Series D funding round.
The collaboration will enable SSGA to distribute its Standard & Poor’s Depositary Receipt (SPDR) ETFs through smallcase’s digital investment platform, opening up avenues for Indian investors to access global markets. SPDR is an ETF launched by State Street in 1993 that tracks the S&P 500 Index, with each share representing ownership in its 500 constituent stocks.
Founded in 2015 and based in Bangalore, smallcase allows users to invest in curated baskets of stocks and ETFs—known as “smallcases”—which are tailored to various themes, strategies or goals. Since its launch, more than $16 billion has been transacted through the platform.
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The firms will explore how State Street Corporation’s global wealth services can assist in extending smallcase’s reach beyond India, while reinforcing SSGA’s “commitment to the Indian fintech ecosystem”.
India remains a priority market for SSGA, and we are impressed by the innovation smallcase brings to the investment ecosystem,” said Yie-Hsin Hung, CEO of SSGA. “This relationship and investment aligns with our strategy of collaborating with leading wealth technology firms to enhance investor ease of access, choice and experience. Together with smallcase, we are excited to further the adoption of wealth-tech in India and improve individual investors’ seamless access to global investment solutions.”
Vasanth Kamath, co-founder and CEO, smallcase, added: “Our new strategic relationship with State Street Global Advisors marks a significant milestone in our journey to offer global equities exposure to our users. SSGA’s deep expertise, strong track record, and global reach make this collaboration a crucial step in our expansion into the international wealth marketplace. We are also excited to have SSGA join as a shareholder in our mission to help more investors design better financial outcomes.”
