Salt Lake City-based crowdfunding platform EquityNet has been acquired by FinTech.net LLC, a portfolio company of Midwest-based C9 Capital LLC. Founder and former CEO of EquityNet, Judd Hollas, has rejoined the company to lead operations as its new CEO.
“EquityNet and its crowdfunding marketplace mission were conceived over 15 years ago, and I’m delighted to resume that mission at the company,” said Hollas. “We have assembled an impressive team of industry experts to guide our pathway and accomplish our aggressive market goals.”
“EquityNet is an exciting acquisition for us,” said Ryan Barton, managing director of C9 Capital. “EquityNet was the first crowdfunding marketplace in North America, and it is positioned to lead the industry again, given its significant user base and scale and its patented crowdfunding technologies.”
Scott Mikkelsen, CEO and managing director at C9 Capital, said, “EquityNet is a strategic acquisition that presents substantial portfolio synergies for us and great return upside, while opening up needed capital for thousands of businesses and investment opportunities for investors of all stripes. We have recapitalized and staffed EquityNet with veteran managers to unlock its full potential.”
Founded in Pittsburgh in 2005, EquityNet recently moved its U.S. headquarters to Salt Lake City.
“EquityNet looks to position itself among the top fintech companies in the world that empower Utah’s startup and tech community known as Silicon Slopes,” a statement from the company said. “Utah has become one of the fastest-growing states in the country, one of the top places to conduct business and is at the epicenter for entrepreneurship and innovation. The fintech sector has played a significant role in its explosive growth, making it a natural home for EquityNet.”
Since its founding in 2005, thousands of privately held companies and accredited investors have joined the EquityNet community to generate over $500 million in funding. The multi-patented EquityNet platform features over 10,000 listed companies covering all business maturities and industry sectors.