Lovell Minnick Partners (LMP), a private equity firm focused on investments in the global financial services industry, has completed a minority investment in oneZero Financial Systems.
The financial terms of the private transaction were not disclosed. LMP is joined in this investment by Phil Weisberg, the former CEO of FXall and the founder of Matzliach Capital, who has also served as senior advisor to oneZero since June 2018.
Founded in 2009 and headquartered in Cambridge, Massachusetts, oneZero provides FX and multi-asset class liquidity, distribution, business intelligence and risk management solutions to the retail brokerage and institutional marketplace. It offers hosted and SaaS-based solutions that enable clients to aggregate, route and manage their risk exposures through Liquidity Hub, access broader liquidity distribution through oneZero’s EcoSystem and gain business intelligence insights through its Data Source product.
Since its inception in 1999, LMP has raised $3.2 billion in committed capital and has completed investments in more than 50 platform companies. Targeted investment areas for the firm include asset management, wealth management, investment product distribution, specialty finance, insurance and brokerage services, financial and insurance technology, and related business services.
“The convergence of the retail and institutional FX markets is rapidly increasing as global market participants seek sophisticated, highly scalable trading solutions and reliable IT infrastructure with ultra-low latency, unparalleled pricing data and high transactional capacity,” says Steve Pierson, managing partner at LMP. “OneZero continues to develop next-generation wholesale technology and business intelligence solutions for market participants with unmatched speed, efficiency and risk management support.”
“We believe there is an enormous greenfield opportunity for oneZero’s further expansion into the global institutional market as regulatory requirements across Europe and globally continue to evolve and create demand for versatile, robust and cost-efficient technology solutions,” says Weisberg.
Andrew Ralich, co-founder and CEO of oneZero, adds: “We look forward to partnering with the deeply experienced team at Lovell Minnick and tapping their institutional capital markets expertise to accelerate oneZero’s growth.”