Edison Partners-backed Clearpool seeks capital raise

Clearpool Group, a provider of trading software, is raising another round of capital, two sources said.

FT Partners is advising on the process, the people said. Clearpool is targeting between $30 million to $50 million in funding, one of the sources said.

Launched in 2014, Clearpool offers electronic trading software for institutional sell-side and professional trading firms. The New York company has raised about $27 million in three rounds of funding, Pitchbook said. Edison Partners invested $8 million in Clearpool in December 2015, Buyouts reported. The company raised $6 million in a Series A round in 2016, PitchBook said, and another $12.5 million in a Series B in 2017.

The new capital raise comes as Edison is believed to want to cash out of Clearpool later this year, a third source, not part of the two, said. That rumor was dismissed by one of the sources. “There are people who want to buy [Clearpool] but zero interest in selling,” the person said.

Edison, of Princeton, New Jersey, is a growth firm. It targets companies with revenue between $5 million to $25 million in sectors such as financial technology, healthcare IT and enterprise solutions.

The firm is investing out of its ninth fund, which closed on $365 million in October. Edison, earlier this month, led a $100 million Series C round for MoneyLion.

Edison does not comment on rumor or speculation, a spokesperson said in an emailed response to questions. “With their strong performance, our companies continually receive inbound interest and evaluate strategic opportunities. Clearpool is a very strong performer in our portfolio. We have no urgency to exit,” the spokesperson said.

Clearpool and FT Partners could not be reached for comment.

Action Item: For more information, contact Chris Sugden, Edison’s managing partner and chairman, by emailing him at csugden@edisonpartners.com