Lawrenceville, NJ (Vocus) December 16, 2010
Edison Ventures proudly announces that GAIN Capital Holdings, Inc. of Bedminster, NJ started trading on the New York Stock Exchange under the symbol “GCAP”. Morgan Stanley and Deutsche Bank Securities co-led the offering.
GAIN is a global provider of online retail and institutional foreign exchange. The Company’s primary channel for retail customers is FOREX.com. GAIN services customers in 140 countries and employs over 380 people worldwide.
Edison realized an 18X return on securities sold in the IPO. After the offering Edison’s ownership is 13%. Edison invested in GAIN when the Company was less than $5 million revenue. From 2005 to 2009 revenue grew from $38 million to $153 million, a compound annual growth rate of 42%. EBITDA exceeds 30%. The Company generated over $60 million cash from operations last year. GAIN holds over $125 million cash to support growth initiatives.
“Edison focused on building a market leader from day one. Chris Sugden’s (Edison Managing Partner) active board leadership and domain expertise were a constant for us”, stated Glenn Stevens, CEO. Mark Galant, Founder and Chairman, commented, “Chris and Edison were all about shared success. Edison provided strategic advice and value added services throughout the Company’s lifecycle.”
“GAIN’s founders saw the opportunity in retail foreign currency trading well ahead of the market. The Company’s success is attributable to a combination of vision, determination and focus”, commented Chris Sugden. “The Company’s financial performance is a direct result of management’s commitment to a phenomenal customer experience”.
GAIN is Edison’s 15th IPO and 5th exit of 2010. Edison Ventures is currently investing its seventh fund.
Financial technology is Edison’s largest industry sector. The firm’s financial technology expertise includes active investments in capital markets, trading, wealth management, loyalty/rewards, banking, billing and payments.
Edison has invested in 34 Financial Technology companies. Successful exits include Best Software, DPM, Edgetrade, E-Transport, Incurrent, Longview Solutions and Princeton Financial. Active portfolio companies include Andera, Archive Systems, Billtrust, Business Financial Services, Correctnet, FolioDynamix, IPP, Liberty Tax, Neat, Scivantage, Tangoe and TraderTools. Chris Sugden leads Edison’s Fintech team of Michael Kopelman, Mike Cichowski and Tom Vander Schaaff.
About Edison Ventures
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to late stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 10 million. Edison typically serves as sole or lead investor. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, Needham, MA, New York, NY, and McLean, VA. Industry specialties include interactive marketing, financial technology, healthcare IT application software and communications. Edison’s successes include Axent, Cambridgesoft, Dendrite, Marcam, Mathsoft, Virtual Edge, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison Ventures currently manages over $650 million and actively making new investments. http://www.edisonventures.com
About GAIN Capital
GAIN Capital Holdings, Inc. is a global provider of online trading services, specializing in foreign exchange (forex or FX) and contracts for difference (CFDs). Customers and trading partners in more than 140 countries have utilized the company's award-winning trading platform.
GAIN Capital provides execution, clearing, custody and technology products and services to an institutional client base including asset managers, broker/dealers and other financial services firms. GAIN also operates FOREX.com, one of the largest and best-known brands in the retail forex industry.
With offices in New York City; Bedminster, New Jersey; London; Sydney; Hong Kong; Tokyo and Seoul, GAIN Capital and its affiliates are regulated by the Commodity Futures Trading Commission (CFTC) in the United States, the Financial Services Authority (FSA) in the United Kingdom, the Financial Services Agency (FSA) in Japan, the Securities and Futures Commission (SFC) in Hong Kong, and the Australian Securities and Investments Commission (ASIC) in Australia. For company information, visit http://www.gaincapital.com or http://www.forex.com
1009 Lenox Drive #4
Lawrenceville, NJ 08678