Harbottle & Lewis has advised the founders of RSRCHXchange, a leading marketplace and aggregator for institutional research, on the acquisition of the company by Liquidnet, the global institutional investment network.
The acquisition supports Liquidnet’s evolution as a global investment network and enables it to embed a new level of research and analytics into the global investment process. Liquidnet will now be able to deliver relevant, actionable insights directly to investment teams through the Liquidnet platform.
Launched in 2015, RSRCHXchange’s research marketplace and distribution network digitizes massive amounts of content and provides a centralized, cloud-based hub that allows providers to deliver research, and asset managers to efficiently source it.
The RSRCHX platform applies analytics to personalize each user’s experience and optimize content discovery, streamline workflows around investment research, and help offset the burden placed on fund managers by new regulations such as MiFID II.
As a result, research providers can better monetize the value of their research while buy-side firms can purchase the research they need, as and when they need it.
“The investment research process has barely evolved in the past 20 years. RSRCHXchange was created to leverage technology-driven solutions to empower members of an investment team to efficiently access the most relevant research and market insight to help inform their investment decisions,” said Vicky Sanders, Co-Founder of RSRCHXchange.
Jeremy Davies, Co-Founder of RSRCHXchange added: “Tapping Liquidnet’s global resources will help us accelerate innovation, insert this critical insight into the investment process at the earliest stage possible, and seamlessly distribute it through the Liquidnet platform.”
Tony Littner, partner in the Corporate Group and head of the firm’s Venture Capital Group, together with associate Tom Macleod, led a multi-disciplinary team that advised the founders on the transaction with support primarily from Chien-Wei Lui (corporate associate) and David Scott (tax partner).
Tony Littner commented: “Having acted for RSRCHXchange since it was a pure startup, it was incredibly satisfying to be able to help Vicky and Jeremy complete their lifecycle journey with their company and is a perfect illustration of what we are passionate about – working with talented entrepreneurs and their disruptive companies right the way through from inception to exit”.
On working with Harbottle & Lewis, Vicky Sanders and Jeremy Davies, founders of RSRCHXchange said: “Harbottle & Lewis has advised us right from our first EIS financing round through to our eventual sale and in relation to pretty much every contract with every bank and financial institution along the way that helped us build up our research marketplace. For a startup like ours, Harbottle & Lewis gave us exactly what we needed which was a combination of first rate legal services but with a personal touch.”