New Debt Exchange, Inc. raises $1mm from strategic individuals in the CLO and broader bond market

NEW YORK, May 17, 2022 /PRNewswire/ -- New Debt Exchange, Inc., has raised $1mm to accelerate product development. The New York and Silicon Valley-based financial technology company is building an integrated connectivity and data utility for the global bond market, focusing initially on collateralized loan obligations (CLOs). This fundraise brings together a group of leading industry participants who will advise the company on product and strategy.

The group of over 20 strategic individuals includes several former partners from Goldman Sachs, founders of asset management and technology businesses in the CLO and broader capital markets, traders from both the buy-side and sell-side, portfolio managers, quants, risk managers, consultants, and lawyers.

Tom Kramer, who founded cloud-based credit technology provider Mariana Systems, said, "The continued growth in the CLO market demands technology solutions that increase price discovery and connectivity between and amongst market participants. New Debt Exchange has developed an innovative platform that addresses both."

John Shen Ryan, former founding member of AGL Credit Management and longtime participant in the loan market, said, "This technology could also add value to many other asset classes."

Matthew Miller, CLO consultant and former head of Crescent Capital's CLO group, said, "Especially given recent market turmoil, technology that reduces friction and supports better execution will be top of mind."

Rich Reilly, head of the US CLO practice at DLA Piper, said, "There's a broad need for automation, last year saw record issuance and the entrance of new participants."

Prior to this capital raise, the New Debt Exchange team had hundreds of business development meetings to shape the product with target customers including investment banks, brokers, and asset managers, as well as with potential technology partners. "We're extremely grateful for the significant time and energy poured into this venture by our prospective customers and advisors. We are humbled by the opportunity to build the product they helped design," said William van Hertsen, founder and CEO.

About New Debt Exchange, Inc.

New Debt Exchange provides a bond market utility to improve connectivity between brokers and their clients. The company is working with leading buy-side, sell-side, issuers, financial technology providers and other industry participants. The service will be available as a standalone web-based app and also through integrations with existing financial-messaging platforms, analytics tools, and portfolio management software.

William van Hertsen 
New Debt Exchange 
[email protected]
www.newdebtexchange.com

SOURCE New Debt Exchange