InvestX Capital Ltd., an established private market secondaries platform and financial tech firm, reveals that it has acquired an investment from financial companies Jefferies Financial Group Inc. (NYSE: JEF), Virtu Financial (NASDAQ: VIRT), and Canaccord Genuity Group Inc. (TSX: CF).
Marcus New, CEO and Founder of InvestX, stated:
“We are thrilled to partner with these leading financial institutions as we expand our Growth Equity Marketplace (“InvestX GEM”), a private market secondaries platform, focused on pre-IPO giants, to sell-side firms. Their tremendous knowledge, experience and networks will accelerate our ability to expand our solutions for a broader range of broker dealers and issuers, creating higher levels of electronification and transparency while lowering costs to all participants.”
InvestX aims to leverage “decades of experience” with offering tech services and navigating the complexities of transacting in the private markets, which “suffer from opacity and inefficiency.”
By offering its sell-side customers with investing platform InvestX GEM, the firm “enables its broker dealers to better serve their clients with greater access, liquidity, and innovation in the private market.”
Rich Handler, CEO, and Brian Friedman, President, of Jefferies, remarked:
“We believe the private market is becoming one of the most crucial asset classes for institutions and wealth management clients. Our strategic investment in InvestX demonstrates our commitment to expanding access and liquidity for our clients.”
The capital injection should allow InvestX to further advance its tech platform, “increase back-office integration and expand its team.” Doug Cifu, CEO of Virtu, and Kieran Mara, Vice President in Jefferies’ Merchant Bank, will be joining the InvestX board.
Virtu Financial CEO, Doug Cifu, added:
“As one of the world’s largest providers of transparent trading solutions and liquidity provision, we are excited to support this innovative growing platform and provide access to InvestX’s inter-dealer marketplace to our global clients.”
Dan Daviau, CEO of Canaccord Genuity Group Inc, noted:
“We have worked with InvestX to provide our clients with enhanced and differentiated access to private market opportunities. With our strategic investment, we look forward to integrating InvestX’s platform into our capital markets and wealth management offerings, as we help them accelerate broader adoption of this innovative platform.”
In February of this year, the firm introduced InvestX GEM, which is “representative and supportive of this high growth asset class.” This comes after the launch of InvestX’s U.S. headquarters in New York City’s Financial District and “the addition of several senior industry executives, including Managing Director Brian Schaeffer, CTO Colin Wrinch, Director of Sales Jon Eckhard, and VP of People & Culture Nicole Liddell.”