New York-based Family Office Networks (FON) has accepted a strategic investment from Toronto-based independent investment dealer Canaccord Genuity Group Inc, the companies announced Wednesday.
FON works with family office investors and helps connect them to investment opportunities such as hedge funds, private equity, venture capital and industry service providers.
“Through our technology platform, newsletters, website and events we support families on all aspects related to growing and preserving wealth, including access to good deal flow,” says Andrew Schneider, founder and CEO of FON, in a statement.
The investment will strengthen Canaccord’s distribution channel for new issues and other products, the dealer says.
“The family office industry is an important constituency for us and we continually seek new ways to serve this valued community. Family Office Networks will be a trusted partner as we move forward with exciting new initiatives to meet the growing needs of global family offices,” says Mark Whaling, global head of sales and trading at Canaccord.
Financial terms of the transaction were not disclosed.