Ventures Makes Strategic Investment In Cognotec
Cognotec, a provider of foreign exchange dealing and connectivity solutions, has received a strategic investment of US$14.5 million (Euro 16 million). The private equity arm of Standard Chartered Bank, FinVentures, is providing two-thirds of the new funds, with the remainder of the investment coming from existing investors. The new investment is to fund the continued expansion of Dublin-based Cognotec’s global business. FinVentures will become a minority shareholder and join the board. This is the first investment commitment to Cognotec from outside the G3 zone, and is particularly significant with Standard Chartered’s history and depth of knowledge in the high growth markets of Asia, including China and India and other fast growing economies, as well as leadership in the foreign exchange trading business.