The Princeton-based investment firm Edison Partners announced Thursday that it has completed its exit from Clearpool Group, a New York-based provider of electronic trading solutions and broker-dealer.
Financial terms were not disclosed.
Edison Partners sold its stake to BMO Financial Group in the second portfolio company exit orchestrated between the firm and Clearpool CEO Joe Wald, it said in a news release.
“Strategic buyers are building their fintech muscle knowing they need to respond both to the challenges that smaller, nimble fintechs are bringing to the market and what is likely to be a prolonged period of increased market volatility,” Managing Partner Chris Sugden said in a prepared statement. “Joe Wald has been one of our most successful repeat CEOs. With Clearpool, he and his team built a sound, high-growth, profitable business with strong unit economics and ROI.”
Clearpool will remain a separate brand under BMO, and represents Edison’s third institutional fintech exit this year.