Constellation Ventures, Dresdner Kleinwort Wasserstein, Northwood Ventures and Gamma Investors Complete Round
Capital IQ, a leading provider of information and technology solutions to the investment banking and corporate finance community, today announced it has closed its Series C round and secured an additional $8 million in capital led by new investor Constellation Ventures, a Bear Stearns Asset Management venture capital fund. Additional investments in the round from prior investors include Dresdner Kleinwort Wasserstein, Northwood Ventures and Gamma Investors.
“Capital IQ is the clear leader in developing software analytics and tool sets for the corporate finance professional,” said Clifford H. Friedman, Senior Managing Director of Constellation Ventures. “With its one-of-a-kind combination of data, analytics and deal management tools, Capital IQ continues to prove its ability to help leading financial institutions streamline business processes, reduce costs, improve client relationships and maximize their return on investment.”
This third round of financing will enable the company to achieve long-term financial success. The capital will be used to continue the growth of the firm’s global sales organization, support the rapid adoption of its platforms within the current customer base and to continue investing heavily in software development.
“The investment banking industry has long been burdened with technological inefficiency,” said Tolga Uzuner, OM Technology Investments Partner at Dresdner Kleinwort Wasserstein. “Capital IQ’s success in rapidly building a large, global customer base clearly demonstrates its ability to develop and deliver a technology that addresses a significant business problem and creates value on a global scale.”
“Commitment from such strong new investors and our existing shareholder base validates Capital IQ’s progress and accelerating opportunity,” said Neal Goldman, Capital IQ Managing Partner.
“Supplementing our already strong balance sheet, this additional capital will allow us to maintain market leadership by aggressively increasing the pace of platform innovation, broadening our sales and client support organization, and expanding our data sets and functionality offering,” said Steve Turner, Capital IQ Managing Partner. “Investments in these areas will enable us to penetrate our current client base and target market more deeply as well as open up additional market segments.”
Capital IQ introduced its product less than two years ago and has already deployed its corporate finance platform to more than 250 firms worldwide. This financing continues the Company’s momentum. Capital IQ’s platform is utilized by large and small investment banks, private equity and hedge funds, corporations, executive recruiters, accounting firms and other professional service organizations.
Portico Capital, a merchant bank based in Greenwich, Connecticut, advised Capital IQ in the transaction.
About Capital IQ, Inc.:
Capital IQ (www.capitaliq.com) is an integrated market intelligence and technology solution provider that enables corporate finance professionals to increase revenues, reduce expenses and be more productive. The platform combines public and private capital market intelligence, analytical tools, coverage management, transaction management, document distribution and group management tools. Capital IQ clients include large and small investment banks, private equity and hedge funds, corporations, executive recruiters, accounting firms and other professional service organizations. Capital IQ’s investors include Credit Suisse First Boston, Dresdner Kleinwort Wasserstein, FleetBoston Financial, J.P. Morgan Chase, Merrill Lynch, SoundView Technology, Northwood Ventures, Gamma Investors, Rosetta Partners, Wilson Sonsini Goodrich & Rosati and Proskauer Rose..
About Baird Global Private Equity
With more than 40 professionals in the United States and Europe, Baird’s global private equity business has raised and managed $1 billion in capital. Baird Venture Partners (BVP) makes venture capital investments in early- to late-stage high-growth companies in three industry sectors: Business Services, Technology and Life Sciences/Health Care. Baird Capital Partners (BCP) provides late-stage growth capital or change-of-control capital to U.S.-based, middle-market companies in the areas of Business Services, Industrial Products and Technology, Communications, Consumer and Life Sciences/Health Care. Granville Baird Capital Partners (GBCP) is a long-established private equity manager targeting mid-market growth companies principally in the UK and Germany with a focus on the Business Services, Health Care, Industrial Products & Services, and Technology sectors. The group’s investments are supported by Baird’s full range of financial advice, operating expertise and industry research, providing a unique full-service approach to the entire private equity investment process. For more information, please visit Baird’s Private Equity website at www.bairdprivateequity.com .
About Constellation Ventures:
Constellation Ventures manages $450 million in venture capital through offices in New York, Los Angeles and Tokyo. The fund invests between $5 and $15 million in early to mid-stage companies that enable the distribution, management and control of information over emerging digital networks. Constellation Ventures provides its portfolio companies strategic value-added services by leveraging its Limited Partners that include Bear Stearns, Sony, Viacom, Young & Rubicam, Tribune, Dai Nippon Printing, NTT Data, Acxiom, Toyota and Singapore Technologies. For more information, please visit www.constellationventures.com.
About Dresdner Kleinwort Wasserstein:
Dresdner Kleinwort Wasserstein (DrKW) is the marketing name for the investment bank within the Corporates and Markets Division of Dresdner Bank AG, a member of the Allianz Group since July 2001. Headquartered in London, Frankfurt and New York and with an international network of offices, DrKW provides a wide range of investment bank products and services to European and international clients through its Investment Banking and Capital Markets business lines.