Trumid Receives Investment From Hillhouse Capital
Trumid Receives Growth Investment from Hillhouse Capital
Global Investment Firm Makes Strategic Investment in Fast-Growing Electronic Bond-Trading Platform
New York, NY (May 14, 2019) Trumid, a financial technology company and electronic trading platform for corporate bonds, is pleased to announce that Hillhouse Capital, a global investment firm with a focus on innovative businesses in growth industries, has purchased a minority stake in the company.
The growth capital from the transaction will be used to expand Trumid’s US corporate bond business and for protocol and product expansion. Hillhouse’s strategic partnership further supports Trumid’s existing relationship with Singapore Exchange (SGX) in Asia. Existing Trumid investors SGX and Arbor Ventures will join Hillhouse in the round, with the total investment reaching approximately $60 million.
With a client network of over 425 buy-side and sell-side institutions, Trumid has experienced rapid growth in its US corporate bond business. April was a record month for usage and trading activity on the platform, with transactions up approximately 75% from the prior year.
“Hillhouse is a fantastic partner for Trumid at this stage of our life cycle,” said Mike Sobel, President of Trumid. “They have a stellar track record of supporting long-term growth and will help us improve and expand for years to come.”
“We have been highly impressed with Trumid’s ability to use data and technology in developing an outstanding corporate bond trading platform,” said Lei Zhang, Founder and CEO of Hillhouse. “We look forward to leveraging our network and operational expertise to help Trumid build out its presence globally.”
Trumid is a financial technology company bringing efficiency to credit trading through data, technology and innovative products. Trumid Market Center, the company’s electronic trading platform, provides corporate bond market professionals with direct access to liquidity and market intelligence. Trumid’s products leverage the network effect and data science to empower all credit market participants to make more informed decisions. Trumid was founded in 2014 by credit professionals with over 100 years of combined trading experience and is headquartered in New York City. Learn more at: http://www.trumid.com
Hillhouse builds businesses that stand the test of time. Our team deploys technology to drive innovation, with sustainable, long-term growth as the ultimate goal. Over more than a decade, we’ve worked alongside iconic companies that have redefined their industries. With offices in Hong Kong, New York, Beijing and Singapore, we look for opportunities around the globe, and have the flexibility to work across the private equity spectrum, from seed investments to buyouts. We manage capital on behalf of global institutions such as non-profit foundations and pensions, and we are proud that our efforts help support educational scholarships, scientific innovation, and artistic achievements across the world.
Offering Inferno via the Amazon Web Services platform has enhanced scalability.
ID2S is connected to the European Central Bank’s real-time gross settlement system.
Clients asked for a platform that mimics some FX trading whilst capturing ‘crypto-specific’ features.
SIX Digital Exchange expects to go live within 12 months.
The sector attracted record investment in the first half of this year.