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CMG received USD 25mn in funding from lenders
Posted on Friday, 26 June 2020 12:30
Capital Markets Gateway (CMG), a financial technology firm that is modernising the equity capital markets (ECM), has raised USD 25.00 million from several financial businesses.

Barclays, Citi, Fidelity Investments, Goldman Sachs, JPMorgan and Morgan Stanley, as well as existing investors including Canaccord Genuity, Franklin Templeton, StageDotO and Shea Ventures, have all participated in the funding.

CMG will use the cash raised to support growth and expand its solution to be the first EMC platform in the US to provide digital connectivity between the buy-side and sell-side.

Capital raising remains a time-consuming and costly process for every constituent involved.

The company’s platform addresses an otherwise fragmented and inefficient process through a common solution that establishes a cohesive channel between equity capital markets participants, providing transparency into deal flow.

CMG has already grown to support nearly 100 buy-side firms representing USD 12,000 billion in assets under management and 15 investment banks.

Its current customers benefit from actionable intelligence through its existing products like DataLab, which currently includes streamlined workflow tools, real-time data and analytics.

Founded in 1017, CMG connects underwriters, buyside investors and sellers in transactions, including initial public offerings.

Greg Ingram, chief executive of the company, said: “Companies access the capital markets to raise money that will ultimately drive expansion, innovation, and employment growth, which is why we have built an integrated capital markets platform that will optimise the deal flow process for all market participants.

“We are humbled by this tremendous validation from some of the top names in finance – all of whom share in our vision.”

Zephyr, the M&A database published by Bureau van Dijk, shows there have been 214 capital increases targeting funds, trusts and other financial vehicles announced worldwide in 2020 to date.

Pershing Square Tontine Holdings raised USD 1.00 billion by selling 50.00 million units to Pershing Square International and Pershing Square Holdings.

Other targets included Pension Insurance Corporation Group, SDCL Energy Efficiency Income Trust and Smithson Investment Trust.

© Zephus Ltd