Euromoney Institutional Investor PLC has acquired a 10 percent interest in Zanbato Inc, an international private capital placements platform and workflow tools provider, for $5.5 million.
The investment is part of a $14m Series B funding round aimed at expanding the capital base of Zanbato. Other key investors include Silicon Valley serial entrepreneur Joe Lonsdale, Formation8, a Silicon Valley technology investment fund, and Accelerate-IT Ventures, a US-based venture capital firm which led the round. As part of the transaction Euromoney will also receive a seat on the Zanbato board.
Zanbato, founded in 2010 and chaired by Joe Lonsdale, is a California-based business focused on building technology to address inefficiencies in private capital markets. Zanbato’s business comprises: i) Zanbato Private Label, an enterprise SaaS solution that enables broker-dealers, placement agents and fund managers to handle the placement of their offerings securely within their proprietary networks: the custom branded and configured solution is trusted by leading financial institutions because of its data rooms, investor analytics, compliance suite, enterprise-calibre security, e-signature integration and due diligence support; and ii) Zanbato Marketplace, software that enables institutional investors and family offices to access direct private investment opportunities. The software is used across several verticals, including fund stakes, pre-IPO company shares and real estate.
Earlier in 2015, Zanbato and Institutional Investor, a division of Euromoney, agreed to enter into a joint venture to bring together the technology of Zanbato and the market reach of Institutional Investor’s Investor Intelligence Network, a private online membership, to serve the institutional segment of the private placements market. Euromoney’s investment strengthens this strategic partnership by providing Zanbato with the financial resources to accelerate its product and business development plans.
Commenting on the announcement, Euromoney Chairman Richard Ensor said: “Over 45 years, Euromoney has built a wealth of trusted relationships with the buy-side and sell-side of the global asset management and capital markets sectors, which we are now using to create specialist digital communities. Our partnership with Zanbato will enable our Institutional Investor division to expand further its digital revenue streams by tapping into the fast-growing online private placement market. Over the next five years, this sector has the potential to create a significant opportunity for placement platforms. With its advanced SaaS technology, Zanbato is well placed to take an important share of this market.”
Zanbato, Founder and Chairman Joe Lonsdale said: “Innovation in finance is critical to advance modern society – technologies that make the global financial system more effective and efficient ultimately benefit all of us. Leaps in progress are often made by applying new ideas to the reach and impact of established players. We have a great respect for the platform Euromoney Institutional Investor has built, and believe our partnership will be formidable as each company brings unique and necessary ingredients required to transform private capital markets. I’m proud to see the innovation behind Zanbato having an increasing impact.”
UK, London & USA, Mountain View, CA
- Euromoney Institutional Investor completes Dealogic transaction December 18, 2014
- Euromoney to acquire a strategic shareholding in Dealogic: Sells Capital DATA and Capital NET posted on November 5, 2014
- Euromoney acquires Investing in African Mining Indaba for £45.3M July 16, 2014
- Euromoney Institutional Investor acquires Infrastructure Journal for £12.5M October 15, 2013
- Euromoney Institutional Investor completes acquisition of HSBC’s Quantitative Techniques operation Posted on October 2, 2013
- Euromoney revenues for the fourth quarter increase by 9% Posted on September 24, 2013
- Euromoney Institutional Investor – interim management statement to July 24, 2013 Posted on July 26, 2013
- Euromoney Institutional Investor – 6 months results to March 2013 Posted on May 16, 2013
- Euromoney Institutional Investor acquires a majority stake in the Centre for Investor Education in Australia Posted on April 19, 2013
- Euromoney Institutional Investor to acquire HSBC’s Quantitative Techniques operation Posted on April 4, 2013
- Euromoney Institutional Investor acquires Insider Publishing Posted on March 19, 2013
- Euromoney Institutional Investor PLC interim management statement for 4 months to January 30, 2013 February 4, 2013
- Euromoney Institutional Investor PLC acquires Californian conference business TTI/Vanguard January 7, 2013
- Euromoney Institutional Investor Plc announces annual results Posted on November 15, 2012
- Euromoney Institutional Investor PLC – pre-close trading update Posted on September 25, 2012
- Euromoney Institutional Investor PLC – Interim Management Statement for the period from April 1 to July 24, 2012. Posted on July 26, 2012
- Euromoney Institutional Investor – trading update – half year profits of not less than £47M Posted on April 17, 2012
- A Fusion Deal: International grain trading conferences, Global Grain Geneva and Global Grain Asia, sold to Euromoney Institutional Investor Posted on February 29, 2012
- Euromoney Institutional Investor to acquire Ned Davis Research Group for £69M Posted on June 21, 2011
- Euromoney Institutional Investor PLC acquires Arete Consulting Posted on August 13, 2010
- Euromoney sells EIC to Broadfern September 2007