Few investors could understand the suffocating weight of expectation that comes with having a larger-than-life father like Ashok Jacob.
– he later set up Ellerston Capital, a fund manager of choice for Australia’s rich families. That, of course, included some ofIt’s not unfitting, then, that we learned Ellerston Capital has recently gone out of its way to give a leg up to, the son of Ashok. Phil has been tinkering away on an “ethical investing app” called Super Obvious, seemingly targeted at Millennials who want that sweet cake-and-eat-it double of putting money towards nice companies while also scoring high returns.
As of June 23, 2023, Everest had $687,422 under management – though we’re told it’s now more – grown from investments made through Super Obvious and its 1000 customers. Though the app is currently unavailable on the Apple App Store – apparently there’s a “bug” that’s being fixed.Jacob says Super Obvious has taken “no money” from Ellerston Capital. But the hedge fund does provide it with investment services, help with back-end operations and accounting assistance, he said.
Clearly Ellerston’s blue-chip backing isn’t enough on its own. Still, not many wide-eyed founders can count on such hefty endorsement. Let alone help with all the unspecified back-end processes, failure on which can really grind one’s hopes and dreams into dust. You do have to wonder, though, what do Ellerston’s investors think? Or the fund’s CIO,Hey, maybe Ellerston’s just spotted Australia’s next visionary founder.
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