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Big banks invest in Capital Markets Gateway

Big banks invest in Capital Markets Gateway

A host of Wall Street heavyweights, including Goldman Sachs and JP Morgan, have joined a $25 million funding round for Capital Markets Gateway (CMG), a fintech startup that facilitates equity capital market transactions.

Barclays, Citi, Fidelity Investments and Morgan Stanley joined the round, alongside existing investors Canaccord Genuity, Franklin Templeton, StageDotO, and Shea Ventures.

The CMG platform is designed to simplify the fragmented and inefficient process of raising capital by establishing a cohesive channel between investors and underwriters in transactions, including IPOs.

Launched in 2017, the platform is currently used by nearly 100 buy side firms representing $12 trillion in assets under management and 15 investment banks. Users get actionable intelligence through products like DataLab - which includes streamlined workflow tools, real-time data, and analytics.

With the new funding in place and new sell-side partners, CMG now plans to add functionality to improve the ECM capital formation process.

Greg Ingram, CEO, CMG, says: "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 - no matter where your desk is and no matter where your team members and partners are.

"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 optimize the deal flow process for all market participants."

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