The Vest Financial Group Receives Majority Equity Investment from CBOE

vest_logoThe Vest Financial Group Inc., a McLean, VA-based investment advisor, received a majority equity investment from CBOE Holdings, Inc. (NASDAQ: CBOE), the holding company for Chicago Board Options Exchange (CBOE), the CBOE Futures Exchange (CFE), and other subsidiaries. 

The amount of the deal was not disclosed.

As a result of the investment, previous investors in Vest, including Y Combinator, Payment Ventures, and First Round Capital, have exited. Co-founder Karan Sood will continue to lead the firm as CEO while Bill Kung, former CEO, will step down from his current role as President to focus on Vest’s technology solutions business.

Founded in 2012, Vest provides options-based investment advisory services and develops technology solutions for options-based investments. The firm’s platform allows an investor to choose the desired level of risk for new or existing stock/ETF positions, then structures a Protective Strategy, using a portfolio of exchange-traded options to match his/her personalized investment objectives and desired protection as closely as possible.

Vest plans to launch Unit Investment Trusts (UITs), Mutual Funds and Exchange Traded Products (ETPs).

The acquisition will allow CBOE to enhance integration of its proprietary products, strategy indexes and options expertise into the Vest platform.



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