NEW YORK--(BUSINESS WIRE)--DFJ Gotham Ventures announces the sale of Jersey City-based portfolio company Pivot Inc. to CME Group. The transaction value is undisclosed in this all cash deal. DFJ Gotham Ventures led Pivot’s Series A investment round.
“The exit is a tremendous success and win for both Pivot Inc. and DFJ Gotham Ventures,” said Danny Schultz, Managing Director of DFJ Gotham Ventures and a former member of Pivot’s board. “Since recruiting John H. Eley as CEO several years ago, he and his team have done an excellent job and we thank John for his leadership.”
“This is an ideal transaction for everyone involved,” said Eley, CEO of Pivot. “It is a great exit for our investors who have been wonderful partners throughout my tenure as CEO of Pivot. It is also a great acquisition for CME Group and a perfect home for the business and employees.”
A 20-year veteran of the financial services and financial technology industries Mr. Eley was responsible for the overall management, operation, and strategic direction of Pivot. Previously, he was president and CEO of Hotspot FX and Managed Models, and the CFO of OnExchange, a futures industry software provider. Mr. Eley also serves as an outside board member and/or advisor to several private companies and is a guest lecturer at the Columbia University School of Business.
About DFJ Gotham Ventures (www.dfjgotham.com)
DFJ Gotham Ventures is a recognized leader in early-stage venture capital in Metro NY, having invested in dozens of seed and Series A financings in technology companies since 2000. The fund is managed by a team of seasoned venture capitalists and entrepreneurs with over 75 years of varied, relevant experience and a track record of success.