Fixed income research house Bond Adviser has closed its first capital raising, with high-net-worth private investors providing the bulk of the funding.
Bond Adviser managing director Geoff Malkin said all of the financial backers of the company either work in or have recently retired from successful careers in wealth management and finance.
Bond Adviser head of research and co-founder Nicholas Yaxley said the capital raising would give the business the balance sheet to grow its subscriber numbers.
The research house, which launched eight months ago under Mr Malkin's impetus, is looking to use the new funding to push further into the financial advice market and the SMSF space.
Mr Malkin said the fixed income market is changing, with new industry developments making bonds and other interest rate securities available to a broader range of investors.
"To make the most of this opportunity, private investors and their advisers need reliable, independent information and education," Mr Malkin said.
"The people who’ve put their support behind Bond Adviser recognise the important role we’re playing in providing transparency in the fixed interest market and helping people make intelligent investment decisions.
"As a truly independent company with the broadest coverage of retail-accessible interest rate securities, we’re in an ideal position to lead the market."