Tema Global

What Tema Global does

Tema Global Limited (dba Tema ETFs) is a New York-based, venture-backed asset manager founded in 2022 by Maurits Pot. The firm builds and distributes an actively managed, institutional-quality ETF platform spanning Growth, Core, and Alternatives categories — including thematic funds such as the Space Innovators ETF (NASA), U.S. Manufacturing & Reshoring (WELD), Electrification (VOLT), Oncology (CANC), Durable Quality (TOLL), and Alternative Asset Managers (AAUM). Three additional products (Memory, Photonics, Healthcare AI) are listed as coming soon.

The company's core technology is an end-to-end ETF infrastructure platform that supports proprietary thematic products and offers turnkey issuance capabilities to external fund managers. A distinguishing architectural feature is its use of Special Purpose Vehicle (SPV) structures — built with partners such as Forge (a Charles Schwab subsidiary) and Kalshi — that wrap pre-IPO private equity (SpaceX) and CFTC-regulated event contracts (prediction markets) inside SEC-regulated ETFs, an unusual combination that most peers have not replicated. Sub-advisory support is provided by Tidal Investments LLC and distribution by Vigilant Distributors, LLC.

Tema earns revenue primarily through ETF management fees charged as a percentage of assets under management, with disclosed expense ratios varying by fund (e.g., 0.75% for NASA). Over 90% of AUM is sourced from institutional investors, financial advisors, and family offices, with retail/mass-affluent treated as a secondary segment reachable through major brokerage platforms. AUM scaled from approximately $5M at first listing in May 2023 to over $5.36B by June 2026, with multiple funds earning top-decile Morningstar rankings. The firm is privately held and backed by Index Ventures, Accel, and Zinal Growth, alongside individual investors including former co-CEO of Bridgewater Associates and the founder of Aberdeen Asset Management.

Name

Tema Global

Legal name

Tema Global Limited

Website

https://temaetfs.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Tema Global (dba Tema ETFs) is a New York-based, venture-backed asset manager that runs an institutional-quality active ETF platform offering thematic funds such as space, reshoring, electrification, and oncology to institutional investors, advisors, and family offices.

Ownership category

akta.pro rank

Product category

Actively Managed ETFs

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Real Assets & Infrastructure ETFs (REITs, Infrastructure, Natural Resources) (FSAAAFAH)

Keywords

• Thematic ETFs
• Actively managed ETFs
• ETF asset management
• Thematic investing
• ETF platform infrastructure

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. ETF Management Fees: Tema earns management fees as a percentage of assets under management across its ETF suite. Fee rates vary by fund; Space Innovators ETF (NASA) charges 0.75% annually. Revenue scales directly with AUM growth, which reached $5.36 billion as of June 11, 2026.
2. Institutional AUM Growth: Primary revenue driver through net new asset accumulation. Tema raised over $1 billion in net new assets over six months from institutional and intermediary clients as of February 2026, with AUM growing from $1.46 billion at start of 2026 to over $5.36 billion by June 2026.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Tema Global operates an actively managed ETF platform offering institutional-quality thematic exchange-traded funds across Growth, Core, and Alternatives categories. The platform includes proprietary funds (NASA, WELD, VOLT, CANC, TOLL, DSPY, AAUM, ARMY, HRTS, ITOL) and provides turnkey ETF launch infrastructure for external fund managers. Funds are distributed through NYSE Arca exchange listings and major brokerage platforms, with proprietary SPV structures enabling access to pre-IPO private securities such as SpaceX.

Product overview

Tema Global operates an actively managed ETF platform offering institutional-quality thematic investment strategies. The product lineup spans three categories: Growth ETFs including Space Innovators (NASA), U.S. Manufacturing & Reshoring (WELD), Electrification (VOLT), Oncology (CANC), International Defense (ARMY), Photonics & Optical (LAZR), Heart & Health (HRTS), Healthcare AI (HLTH), and Memory (DISK); Core ETFs including S&P 500 Historical Weight Strategy (DSPY) and Durable Quality (TOLL); and Alternatives including Alternative Asset Managers (AAUM). The platform democratizes access to institutional-grade active ETF strategies, enabling retail and institutional investors to access thematic investment themes through actively managed, exchange-traded funds listed primarily on NYSE and NASDAQ.

Differentiator

Problem solved

Functional benefit

Products and services

• Tema Space Innovators ETF (NASA) Actively managed ETF investing in the emerging space economy, offering direct exposure to SpaceX through an SPV structure, alongside holdings in Rocket Lab, EchoStar, OHB SE, AST SpaceMobile, Planet Labs, and other space-related companies.
• Tema U.S. Manufacturing & Reshoring ETF (WELD) Actively managed ETF investing in companies positioned to benefit from growth in U.S. manufacturing and industrial activity, supported by deglobalization, reshoring, and supply chain resilience tailwinds. Formerly traded as RSHO.
• Tema Electrification ETF (VOLT) Actively managed ETF focusing on power generation, transmission, and storage companies, targeting electrification and AI-driven power infrastructure demand.
• Tema Oncology ETF (CANC) First actively managed U.S.-listed ETF focused on investing in biotech companies developing cancer treatments and therapies.
• Tema Durable Quality ETF (TOLL) Actively managed ETF investing in durable quality companies with tangible, dominant, and durable moats. Focuses on mission-critical businesses with high barriers to entry. Formerly known as Tema Monopolies and Oligopolies ETF.
• Tema S&P 500 Historical Weight ETF Strategy (DSPY) ETF Strategy designed to provide S&P 500 exposure with reduced concentration risk through historical weight methodology, addressing modern index concentration concerns.
• Tema Alternative Asset Managers ETF (AAUM) Actively managed ETF focusing on alternative asset managers as an investment theme.
• Tema International Defense ETF (ARMY) Actively managed ETF focusing on international defense and defense innovation companies.
• Tema Heart & Health ETF (HRTS) World's first ETF investing in GLP-1 and addressing obesity and cardiometabolic diseases.
• Tema International Durable Quality ETF (ITOL) Actively managed ETF applying the durable quality investment approach to international equities outside the United States, targeting companies with tangible, dominant, and durable moats.

Quantifiable outcome

• 5-star Morningstar Rating for WELD ETF (31.62% annualized returns since inception)
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core.

• Steve MunroecoreOthers · 18 February 2026Former ProShares Managing Director and Chief Marketing Officer appointed as President of Tema ETFs. Previously spent nine years at Global X helping build it into a globally recognized ETF brand. Appointment supports next phase of growth following breakout year in 2025.
• Tidal Investments LLCcoreImplementation/ SI/ Consulting Partner · 8 May 2023Sub-adviser to Tema ETFs including Space Innovators ETF (NASA), Durable Quality ETF (TOLL), and U.S. Manufacturing & Reshoring ETF (WELD). Provides portfolio management support and investment strategy execution.
• Forge (Charles Schwab subsidiary)coreTechnology or IntegrationProvides SPV (Special Purpose Vehicle) structure enabling NASA ETF to access SpaceX shares, facilitating retail and institutional investor access to pre-IPO private company exposure through a regulated secondary market structure.
• Vigilant Distributors, LLCcoreChannel Partner/ Reseller/ DistributorDistributor for Tema ETFs, responsible for ETF distribution and sales across brokerage platforms and institutional channels. Not affiliated with Tema ETFs LLC or Tidal Investments LLC.
• KalshicoreTechnology or IntegrationTema Durable Quality ETF (TOLL) became first ETF to offer exposure to Kalshi through an SPV structure. Kalshi is the leading CFTC-regulated event contract exchange and dominant U.S. prediction markets platform commanding 52% of total volumes.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• ARK Invest: ARK Invest is a flagship thematic ETF issuer focused on disruptive innovation (AI, robotics, genomics, space). Directly comparable to Tema's innovation-led thematic approach with NASA/space and HRTS/biotech products; both target active, high-conviction thematic exposure for retail and institutional investors.
• Defiance ETFs: Defiance is a thematic ETF sponsor focused on disruptive technologies (AI, quantum, 5G) and leveraged/income strategies. Comparable to Tema in its thematic-first product development and target audience of active ETF allocators.
• Global X ETFs: Global X is one of the largest thematic ETF issuers, with deep coverage in thematic strategies (technology, consumer, commodities). Directly comparable to Tema in product structure (active and thematic ETFs) and target customer base; Tema's President Steve Munroe spent nine years at Global X building it into a globally recognized brand.
• Innovator ETFs: Innovator is an ETF sponsor specializing in defined-outcome and structured ETFs. Comparable to Tema in its structural innovation orientation (Innovator's buffered ETFs vs Tema's SPV-based private market exposure) and its focus on differentiated, active product structures.
• Simplify: Simplify is a thematic ETF issuer that uses options overlays and alternative structures to deliver differentiated outcomes. Comparable to Tema in its active, structure-innovation approach (e.g., Tema's SPV-based private market access parallels Simplify's derivative-based differentiation).
• GraniteShares: GraniteShares is an ETF issuer focused on thematic and leveraged single-stock strategies. Comparable to Tema in its emphasis on innovative, actively managed ETF structures and niche thematic offerings.
• Roundhill Investments: Roundhill is a thematic ETF sponsor known for niche theme funds (sports betting, AI, proptech). Closely comparable to Tema's thematic specialization model and active product development approach.

Broad incumbents

• First Trust: First Trust is a large, established ETF sponsor with broad sector and thematic coverage. Comparable to Tema in its active thematic ETFs (e.g., manufacturing, defense, healthcare) and serves a similar institutional/advisor customer base, but with a much larger overall product suite and AUM base.
• ProShares: ProShares is a large, established ETF issuer known for leveraged, inverse, and thematic products. While a broader incumbent with greater scale, it overlaps with Tema in active/thematic ETFs and is directly relevant as Tema's President Steve Munroe was previously ProShares' Managing Director and CMO.

Emerging players

• Direxion: Direxion is an established ETF sponsor focused on leveraged, thematic, and sector strategies. Comparable to Tema in active thematic product development but differentiates through leveraged exposures; overlaps in themes like AI and disruptive technology.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/Temaetfs
• Facebookfacebook.com/temaetfs

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tema Global