Barclays, Citi, Fidelity Investments, Goldman Sachs, J.P. Morgan and Morgan Stanley have invested in Capital Markets Gateway (CMG), a fintech firm that seeks to improve the process for capital market transactions.
Capital raising can be time-consuming and costly. CMG’s platform addresses an otherwise fragmented and inefficient process through a common solution that establishes a channel between equity capital markets participants, providing transparency into deal flow.
“CMG’s unique platform provides an efficient service in accessing the global capital markets,” said Todd Sandoz, Interim Co-Head of Global Equities at Barclays. “We have actively followed the company’s growth in recent years and are proud to support its mission to make transactions more efficient and less resource-intensive for the industry and for our clients. We look forward to its continued innovation in the space.”
The company currently supports nearly 100 buy-side firms representing $12 trillion in assets under management and 15 investment banks. The investment will be used to support the company’s growth and expand its solution to be the first ECM platform in the U.S. to provide digital connectivity between the buy-side and sell-side.
“It’s clearer now more than ever in the current environment that the way we do business today demands modern, agile, accessible, and transparent solutions,” said Greg Ingram, CMG CEO and co-founder. “We are humbled by this tremendous validation from some of the top names in finance – all of whom share in our vision.”
“We are delighted that CMG is bringing much needed enhancement to the ECM capital formation process. A more efficient market translates to more business getting done – business that results in job creation, innovation, and economic growth,” said Ben Batory, SVP, Equity Trading at Franklin Templeton.