CDPQ Makes Strategic Investment in IEX Group
Posted on 12/03/2020
Caisse de dépôt et placement du Québec (CDPQ) took a bet and made a strategic investment in IEX Group, Inc. (IEX), a New York City-based financial technology company and the eighth largest stock exchange operator globally in terms of the value of shares traded every day. CDPQ joins other investors in IEX that are committed to the company’s vision and strategy. Brad Katsuyama is the co-founder and CEO of IEX Group.
IEX Group is a financial technology company that operates the Investors’ Exchange LLC (IEX Exchange), a U.S. securities exchange committed to serving all market participants; on average more than US$ 12 billion worth of shares trade on IEX Exchange every day. More recently, the company introduced its IEX Cloud business, which provides a new model for delivering high-quality financial data to business professionals and application developers.
In September 2014, IEX Group raised US$ 75 million from investors including Bain Capital Ventures, MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company, and global investment manager Franklin Resources, Inc. Other participants in the September 2014 round include private investment firms Cleveland Capital Management and TDF Ventures, and Jim Clark (Netscape) and Steve Wynn (founder of Wynn Resorts).
Other investors in IEX include Pershing Square Capital Management, Sapphire Ventures, The Capital Group, Belfer Management, and Scoggin Capital Management.
The U.S. SEC approved IEX to be an official exchange on June 17, 2016.