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FT Partners Advises Backstop Solutions on its $20,000,000 Financing

Overview of Transaction

  • On October 30, 2018, Backstop Solutions announced a minority $20 million financing round
  • Existing and new investors participating in the round include Roger Kafker, a 30-year veteran investor in the asset management space, Tao Huang, former COO of Morningstar, David Bradley, President of Huizenga Capital Management, and Vistara Capital Partners
  • Headquartered in Chicago, IL, Backstop Solutions is a Software-as-a-Service platform designed to help firms in the institutional and alternative investment management industry operate efficiently, invest intelligently and communicate effectively
  • Founded in 2003, the Company has quickly grown to service over 800 clientele providing its industry-leading cloud-based productivity suite to investment consultants, pensions, funds of funds, family offices, endowments, foundations, private equity, hedge funds, and real estate investment firms

Significance of Transaction

  • The transaction builds on an strong year for Backstop, which saw a rapidly growing roster of clients, key executive appointments, and market momentum
  • Backstop Solutions’ minority financing will enable the Company to become globally recognized as the dominant cloud productivity suite for the institutional and alternative investment industry

FT Partners' Role

  • FT Partners served as sole strategic and financial advisor to Backstop Solutions
  • This transaction underscores FT Partners' strong domain expertise and successful track record in the WealthTech space