Venture capital firm IMC Investments invests in Clear Street
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Venture capital firm IMC Investments invests in Clear Street 15 February 2023US Reporter: SFT
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Clear Street has received strategic investment from venture capital firm IMC Investments.
The investment, for an undisclosed sum, provides additional backing to efforts of the New York-based international prime broker to build a modern capital market infrastructure that does not rely on legacy technology.
Established in 2018, Clear Street has been building a cloud-native, proprietary clearing and custody system to replace ageing legacy technology across capital markets and indicates that it now processes more than US$10 billion in US equity notional trading value on a daily basis.
Clear Street indicates that, in 2022, it onboarded more than 150 institutional prime brokerage firms and extended its service coverage in securities lending and repo, financial operations and capital introductions.
Chris Pento, Clear Street’s CEO and co-founder, says: “The backing of IMC underpins the positive response Clear Street has received in the market.
“Clients are demanding better technology and better service. We're answering that call with a platform that meets the needs of a modern marketplace.”
Osi Lillan, co-lead of IMC Investments, adds: “Clear Street’s mission to modernise the capital markets infrastructure presents a compelling opportunity”.
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