CPE News Brief (7.26.2023) – MindBridge has reportedly completed a US $60 million recapitalization transaction by Boston based growth equity firm PSG Equity, US $45 million of which was reportedly by way of secondary by PSG buying out of shares held by management and other investors.
Rick Essex, Managing Director at PSG, and Bill Hewitt, a Senior Advisor at PSG, will join MindBridge board of directors. Hewitt will also act as interim CEO.
Ottawa based MindBridge is a global leader in financial risk discovery and anomaly detection that helps financial professionals access better ways of working by identifying, surfacing, and analyzing risk across broad financial datasets.
MindBridge’s VC investors include(d) PeakSpan Capital, Real Ventures, National Bank of Canada, Reciprocal Ventures, The Group Ventures, 8VC, and private investors.
PeakSpan Capital and Real Ventures remain as significant shareholders/investors.
photo credit: Mindbridge