Benzinga

Canaccord Genuity Advises Leading Financial Media and Analytics Business Benzinga on its Majority Investment from Beringer Capital Valued at $300 Million

Strategic Partnership to Deliver Expanded Value to Retail and Professional Investors

Canaccord Genuity is pleased to announce that it has advised Benzinga, a tech-enabled financial media, data, and analytics platform created for the people, by the people, on its majority investment from Beringer Capital, a leading North American private equity firm specializing in the media, marketing services, and technology sectors.  The investment values the company at approximately $300 million.  Benzinga provides timely, actionable ideas that help users navigate even the most uncertain and volatile markets.

Benzinga was born out of the Great Recession in 2010. Founder Jason Raznick has since built Benzinga to be the resource most widely used by individual investors, integrated into every major online brokerage and recognized as an indispensable resource for best-in-class content, data, events and information. Its staff of more than 100 delivers timely and actionable insights to nearly 25 million readers each month—spanning more than 125 countries worldwide—and organizes industry conferences to connect individual investors with public companies.

Beringer Capital is a private equity firm specializing in the rapidly evolving media, marketing services, commerce, data, and technology sectors. The firm leverages its financial and intellectual capital to invest in middle-market companies that are strongly positioned to benefit from the accelerating trend toward digital transformation. Beringer’s collaborative approach, as well as its strong track record with add-on acquisitions, helps visionary leadership teams to deliver exceptional customer experience and achieve impressive results.  Beringer Capital has offices in Toronto and New York.

Beringer Capital’s acquisition of Benzinga reflects its deep media sector expertise, as well as its investment philosophy of partnering with robust founder-led companies that are focused on augmenting digital transformation efforts. Its team was particularly impressed by Benzinga’s authentic voice, which seeks to bring investors highly digestible, understandable, and timely information; as well as its broad yet expert editorial coverage that spans traditional financial markets, politics, biotech, cannabis, cryptocurrencies, sports betting and more. This transaction comes on the heels of a year in which Benzinga parlayed broader investment trends—including a growing interest in stock trading and alternative assets such as cryptocurrency—into record subscriber numbers.

Working closely together, Benzinga and Beringer Capital will seek to deliver unparalleled value, while helping to grow the platform’s subscriber and user base further still. These efforts will include deeper content vertical coverage, new forms of media, expanded B2B partnerships, continuous UX/UI improvements, and more.

Canaccord Genuity, with a team led by Sanjay Chadda, Edin Trto, and Seth Rosenfield, served as the exclusive financial advisor to Benzinga.