FolioDynamix, a New York, NY-based provider of on-demand technology and product solutions to wealth management firms and their affiliated investment advisors, received a $16m growth equity investment.
The round was led by growth equity firm ABS Capital Partners, with participation from existing capital partners Edison Ventures, Cambrian, and Velocity Financial Group.
FolioDynamix intends to use the funds to further develop its technology platform and invest in sales and marketing.
In conjunction with the financing, ABS Capital General Partner Cal Wheaton and Chairman and Founding Partner Don Hebb will join the company’s board of directors. Existing board members Chris Sugden from Edison Ventures along with John Geraci, Aron Miodownik, and Joseph Mrak will round out the board.
FolioDynamix provides sponsors, managers and advisors with different solutions including:
– a wealth servicing platform, FDx, which is a fully modular, configurable, thin-client application for all fee-based products;
– a registered investment advisor, FDx advisor, which brings together institutional quality manager research services, investment consulting services and discretionary investment solutions that enable users to establish and sustain an open-architected wealth management program.
The company also operates offices in Sacramento, CA and Columbus OH.
FinSMEs
22/12/2010
update (in Italic): 04/01/2010