NEW YORK–(BUSINESS WIRE)–RISE Financial Services, LLC, (“RISE Financial”), a subsidiary of Siebert Financial Corp. (NASDAQ: SIEB) (“Siebert”), a financial services provider, today announced that it has completed the acquisition of a 20% stake in Hedge Connection Inc (“Hedge connection”), the only female-owned FinTech company offering patented technology introduction to the company’s capital of a SaaS solution via its Fintroz product. As part of the transaction, RISE Financial acquired the right to purchase up to a remaining 80% of Hedge Connection.
Hedge Connection’s powerful Fintroz platform enables hedge fund managers to connect to a global pool of institutional investors and maintain control over how their information is shared while helping funders streamline due diligence. The Fintroz platform provides RISE Financial and its division, RISE Prime, with a technology solution to efficiently scale a comprehensive capital introduction program for clients.
RISE Prime specializes in offering a full range of best-in-class brokerage services aligned with the growing Environmental, Social and Governance (“ESG”) mission-driven initiatives of institutional investors. RISE Prime serves as a strategic partner for institutional clients when diversity and access to the best prime brokerage services are important.
Lisa Vioni will continue as CEO of Hedge Connection and has been named President of RISE Prime – responsible for capital introductions. Ms. Vioni will lead the capital introduction effort at RISE Prime by offering all clients, including emerging managers, access to a comprehensive program that will include one-on-one virtual investor-manager events powered by RISE Prime’s leading software. Hedge Connection, Fintroz.
Lisa is a highly respected financial industry executive and entrepreneur with nearly three decades of experience. She worked sell-side as a senior mortgage derivatives specialist at Lehman Brothers before moving into a buy-side capital raising role for multi-billion dollar hedge funds Ellington Management Group and Cerberus Capital Management. She left the buy side to build and manage the disruptive capital raising and marketing platform Hedge Connection for which she was awarded two patents. Lisa currently sits on the Board of High Water Women, a leading social change organization powered by over 5,500 financial services professionals, 80% of whom are women. High Water Women has a long history of providing financial literacy training in conjunction with the Siebert Foundation.
“We are thrilled to partner with Siebert, a company that has always been actively dedicated to ESG and gender equality,” said Lisa Vioni, CEO of Hedge Connection and President of RISE Prime – Head of Capital Introductions.. “When we launched Hedge Connection in 2005, the idea was to democratize the process of raising capital so that all managers, including emerging managers, could have access to institutional investors. Working with Siebert and RISE Prime gives us the platform we need to grow significantly and to achieve the original goal of giving managers a mechanism to break down barriers that impede growth. We look forward to developing a comprehensive program that will allow RISE Prime clients to grow their brands while gaining access to institutional investors through cutting-edge technology as well as a host of live networking and educational events.
“We are excited to partner with Hedge Connection as we embark on initiatives that align with our mutual commitment to diversity and inclusion while continuing to support the goals of our strategic partners,” said Gloria. E. Gebbia, majority shareholder and board member of Siebert. “Lisa Vioni and her company Hedge Connection are recognized leaders in providing introductory services to investors in the alternatives industry. With their expertise and technology, we will continue to build on the legacy of Muriel Siebert. Lisa is a renaissance leader, offering a unique blend of capital markets, FinTech and creative expertise, including being a Tony Award winner for the Broadway production of Long day trip into night. The addition of Lisa to the RISE Financial Board of Directors will be a real asset as we continue to relaunch our offerings. »
Cynthia DiBartolo, CEO of RISE Financial and Siebert Board Member, said:Our investment in Hedge Connection and the appointment of Lisa Vioni to our organization extends Siebert’s more than 50-year diversity story, which began with the legendary Muriel Siebert. To advance this legacy, it is essential that RISE Prime be at the forefront of digitalization in the world of hedge funds. Our partnership with the only female-owned FinTech company offering a patented venture capital introduction SaaS solution puts us in a position to achieve this goal. And while tech solutions such as Fintroz have been somewhat propelled by the pandemic, make no mistake, the industry has long needed to modernize the traditional alt landscape and capital inflow model. Additionally, as the only prime diversity broker in the nation striving to advance ESG, we recognize that traditional capital introduction services disproportionately disadvantage talented emerging managers from minority and female backgrounds. As a mission-driven organization, RISE Prime will now be able to harness this innovative technology to best help all managers connect with the right partners – it’s truly democratizing. »
About Siebert Financial Corp.
Siebert Financial Corp. is a holding company that conducts its retail brokerage business through its wholly owned subsidiary, Muriel Siebert & Co., Inc., which became a member of the New York Stock Exchange (“NYSE”) in 1967 when Ms. Siebert became the first woman to hold a seat on the NYSE and the first to lead one of its member companies. Siebert conducts its investment advisory business through its wholly owned subsidiary, Siebert AdvisorNXT, Inc., a registered investment adviser, and its insurance business through its wholly owned subsidiary, Park Wilshire Companies, Inc., a licensed insurance agency. Siebert operates through its wholly owned subsidiary, Siebert Technologies, LLC., a developer of robotic advisory technology. Siebert also offers prime brokerage services through its fifth wholly-owned subsidiary, Rise Financial Services, LLC, an SEC-registered broker-dealer. Siebert is headquartered in New York City with offices throughout the continental United States. More information is available at www.siebert.com.
About RISE Financial Services, LLC
To learn more about RISE Financial and RISE Prime, please visit www.RISEprimeservices.com.
About Hedge Connection Inc.
Hedge Connection, launched in 2005 by financial industry veteran Lisa Vioni and co-founder Rob Arthurs, is the only female-owned and run FinTech company offering a patented investor introduction solution for the alternatives industry. In 2020, Hedge Connection introduced an enterprise SaaS platform called Fintroz that can be licensed by institutions that want to offer an introduction of capital to their clients using this advanced technology. Since 2014, Hedge Connection has hosted a host of live events that complement the technology platform with thought leadership and one-on-one networking. Through technology and events, Hedge Connection has facilitated thousands of introductions between hedge fund managers and institutional investors.