Goldman Sachs has led a $38 million investment round by large banks in Visible Alpha, a young New York-based company that helps investment managers better value the equity research services they receive from brokers.
Wells Fargo, Banco Santander, Exane BNP Paribas, Macquarie Group and Royal Bank of Canada participated in the strategic investment round, the company said on Thursday.
Visible Alpha’s existing investors including Bank of America, Citigroup and Morgan Stanley also joined.
The startup said it will use the injection of cash to expand globally and ensure that its offering keeps up with client demand.
Launched in early 2017, Visible Alpha uses technology to help fund managers keep track of the amount and value of equity research and corporate access that they receive from their brokers. It also offers tool that aggregate data from analysts to make it easier to use and more valuable for investors.
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