Edison Partners has divested its investment in New Jersey-based Scivantage to Refinitiv. No financial terms were disclosed. Scivantage is a financial tech company.
PRINCETON, N.J. (PRWEB) MARCH 11, 2020
Edison Partners, the growth equity investment firm, today announced the successful exit of Scivantage to Refinitiv, one of the world’s largest providers of financial markets data and insights, trading platforms, and open data and technology platforms. The exit generated a nearly 3X return for Edison Partners.
Scivantage has grown as a trusted Software as a Service (SaaS) innovator in the fintech market. The company’s primary solutions include wealth management offering Wealthsqope, a digital client experience, and Maxit E2E, an end-to-end tax reporting solution.
“We are grateful to CEO Chris Calhoun and his management team who combined domain expertise with consistent execution,” said Michael Kopelman, General Partner, Edison Partners. “The entrepreneurial spirit established by Adnane Charchour, recent product innovation, and an exceptional client experience captivated the interest of fintech powerhouse Refinitiv for this compelling combination.”
Refinitiv announced plans to expand its wealth management portals’ service offering by integrating Scivantage’s solutions, enhancing connectivity between advisors and their clients. Wealth firms will be able to realize the workflow benefits via both end-client and wealth professional portal use cases.
Speaking about Edison Partners as the company’s long-time investor, Scivantage CEO Chris Calhoun said: “This will be my second successful exit with Edison, the first being with GAIN Capital. Once again, Edison provided tremendous resources and expertise to enable us to scale our business. With complementary clients and product offerings, the combination with Refinitiv is a natural fit and will broaden the portfolio of wealth management solutions available to current and prospective clients.”
Edison Partners has financed and guided more than 235 private companies, including more than 46 fintech companies. The firm was recognized for two years in a row as Fintech Equity Investor of the Year by LendIt Fintech and named to the Institutional Investor’s Fintech Finance 40 power ranking.
Noteworthy fintech exits include Billtrust, EdgeTrade, FolioDynamix, GAIN Capital, Liberty Tax, and Princeton Financial. Current financial technology investments include: BFS Capital, Bento for Business, Bipsync, Clearpool Group, ComplySci, FundThatFlip, GAN Integrity, Giant Oak, MoneyLion, Predata, Solovis, YieldStreet, and Zelis.
About Edison Partners
For more than 30 years, Edison Partners has been helping CEOs and their executive teams grow and scale successful companies. The firm’s investment team brings extensive investing and operating experience to each investment. Through a unique combination of growth capital and the Edison Edge platform, consisting of operating centers of excellence, the Edison Director Network, and executive education programs, Edison employs a truly integrated approach to accelerating growth and creating value for businesses. A team of experts in enterprise solutions, financial technology, and healthcare IT sectors, Edison targets high-growth companies with $5 to $25 million in revenue; investments also include buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners is based in Princeton, NJ and manages more than $1.4 billion in assets throughout the eastern United States.