GAIN Capital, the premier source for online currency trading (www.gaincapital.com), announced today the successful completion of its most recent investment round, totaling $10 million. The equity investment was made by Tudor Ventures, the venture capital and private equity arm of Tudor Investment Corp., an internationally recognized, diversified investment management firm.
Tudor Ventures focuses on providing capital to mid- and late-stage technology and growth companies. “In addition to a growing, high margin revenue stream, GAIN possesses many of the characteristics we look for in an investment opportunity, including a strong management team, a capital efficient business model, and a strong competitive position,” commented Bob Forlenza, Managing Partner at Tudor Ventures. “It is our belief that these qualities will support GAIN’s continued growth trajectory.”
“GAIN’s business focus was another appealing aspect of this investment opportunity,” said Carmen Scarpa, a partner at Tudor Ventures. “GAIN’s demonstrated ability to serve sophisticated foreign exchange investors and attract new participants to this market should create significant value over the next several years.”
Mark Galant, CEO and founder of GAIN Capital added, “GAIN is already firmly profitable, with a steadily growing balance sheet. The investment by Tudor Ventures represents a significant increase in valuation over GAIN’s B round in June 2001, and bears proof of the firm’s market leadership, solid reputation, and ability to successfully execute our vision in a difficult economic environment. “Management’s primary objective for additional investment was not as a financing tool but rather to affirm our accomplishments to date, jumpstart our international expansion plans, and provide liquidity to existing shareholders,” continued Mr. Galant.
GAIN Capital is a privately held company. In addition to Tudor Ventures, other GAIN investors include the private equity firms Edison Ventures, Cross Atlantic Capital Partners, and Blue Rock Capital, as well as all GAIN Capital employees.
About GAIN Capital
GAIN Capital (www.gaincapital.com) offers direct access trading and asset management services for the global Foreign Exchange (FX) markets. GAIN Capital is a registered Futures Commission Merchant (FCM), regulated by the Commodity Futures Trading Commission (CFTC), and is a member of the National Futures Association. GAIN revolutionized the FX market by being the first online FX trading firm to allow clients to deal instantaneously from live, streaming quotes.
A recognized market leader, GAIN services clients from more than 80 countries around the globe including fund managers, Commodity Trading Advisors (CTAs), and individual traders. The firm achieved record trade volume in 2002, transacting over $200 billion.
About Tudor Ventures
Tudor Ventures is the venture capital and private equity arm of Tudor Investment Corp., an internationally recognized, diversified investment management firm with total assets under management in excess of $8.7 billion. Since the early 1990’s, Tudor and its principals have invested in over 75 companies, with a strong record of investment success, and currently manage over $500 million in private equity investments.
SOURCE: GAIN Capital
