Bailey McCann, Opalesque New York:
New platforms for hedge funds or other private placement investments open all the time, promising clients access to the newest alpha generating vehicles you've never heard of. FNEX seeks to turn that idea on its head with a marketplace for Reg D private placements, alternative funds and additional investment vehicles. Unlike closed platforms, investors and funds can sign on to FNEX without an existing relationship to the firm. From there, investors can source deals and even take them all the way through funding through the FNEX virtual deal room.
"This is a site geared toward transactions. We wanted people to be able to research and complete the transaction on the same platform if they want to," FNEX CEO, Todd Ryden, tells Opalesque.
So far the marketplace has been in development for a little over a year, including a beta period that the firm has used to bring funds and investors online and start building a pipeline of offerings. A quick scan of the platform shows a variety of funds including hedge funds, manage futures firms, and other private funds with names investors will recognize. Ryden estimates that there is approximately $100m in Reg D issuance online now, which will continue to expand through the official launch. The official launch is on track for the end of September.
Once an investor finds an opportunity they are interested in, they can look at an initial set of information provided by the issuing firm, t......................
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