Gain Capital Group secures fresh funding
Gain Capital Group has announced the completion of an investment round totalling $117 million from two leading private equity firms specializing in finance and technology.
The funding was led by 3i, which has made a $97 million investment, and VantagePoint Venture Partners, an existing Gain investor, which injected $20 million. As a result, 3i US Growth Capital Partner Whitney Bower joins Gain’s board of directors.
Gain has not disclosed what portion of its business it has sold, other than to say that the investment is for a minority stake. A portion of the proceeds will go to the company’s balance sheet to facilitate larger trading relationships with leveraged funds and institutions globally, as well as to support Gain’s growing white-label business.
“We are pleased to welcome 3i to our investor group. We will undoubtedly look to leverage 3i’s financial expertise, strong global network and recognized ability to add value to help us achieve our long-term business goals,” says Glenn Stevens, Gain’s chief executive officer.
In addition to 3i and VantagePoint, Gain’s investor group includes Tudor Ventures, Edison Venture Fund, Cross Atlantic Capital Partners, and Blue Rock Capital.