Repo securities finance dealer South Street Securities Holdings (SSS) has become the lead investor in a capital raise by Kayenta Ltd, a hedge fund software solutions developer.
Kayenta offers cloud-native software, driven by application programming interfaces, to provide investment managers with transparency into their financing costs. The base offering includes optional modules in financing wallet, security level reconciliation and securities finance data.
The hedge fund treasury firm will utilise the capital from the fund raising to expand its research and development resources, as well as accelerate product development customised to hedge fund clients.
Commenting on the partnership, Anthony Venditti, managing director and head of strategic initiatives and sales at SSS, says: “South Street is excited to partner with Kayenta. They are a great complement to our existing business. We are confident in the Kayenta management team and this should be a win-win for both sides.”
Chris Hagstrom, CEO of Kayenta, adds: “This is an exciting partnership for Kayenta. Client buy-in has been fantastic, and this capital raise will help accelerate our product delivery and ability to scale. The South Street management team will bring valuable experience, and together we are confident we will deliver the market-leading treasury technology solution.”
The oversubscribed offering also saw participation from a consortium of investors holding extensive knowledge and background in both the hedge fund and prime brokerage spaces.
Earlier this month, SSS became an active member of equity derivatives clearing organisation, the Options Clearing Corporation (OCC).
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