Last deal

$20M

Amount

Venture - Series Unknown

Stage

04.01.2008

Date

1

all rounds

$20M

Total amount

date founded

Financing round

General

About Company
Merlin Securities provides technology and prime brokerage services to the alternative investment industry.

Industry

Sector :

Subsector :

Also Known As

Wells Fargo Prime Services

founded date

01.01.2004

Operating Status

Closed (01.08.2012)

Number of employees

Company Type

For Profit

Last funding type

Venture - Series Unknown

IPO status

Private

Description

The company provides trading account management and operational services to single and multi-primed hedge funds, offering a complete suite of managed services in one place. Their advanced technology includes performance attribution models and risk management components, providing fund transparency reporting tools to managers. Merlin Securities was founded by Aaron Vermut and Stephan Vermut and was acquired by Wells Fargo & Company in April 2012.
Contacts
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M&A Details
1

Transaction name

Acquired by

Wells Fargo

announced date

27.04.2012

Financials

Funding Rounds
1
1

Number of Funding Rounds

$20M

Money Raised

Their latest funding was raised on 04.01.2008. Their latest investor Sequoia Capital. Their latest round Venture - Series Unknown

Date 
Funding Round 
Investors 
Money Raised 
Lead 
Sequoia Capital

Sequoia Capital

Sequoia is a venture capital firm that helps daring founders build legendary companies from idea to IPO and beyond.

Sector

General Industrials

Subsector

Diversified Industrials

Location

Menlo Park, CA, USA

count Of Investments

1967

count Of Exists

319
Co-Investors
Investors
1
1

Number of lead investors

1

Number of investors

Investor 
Lead 
Round 
Partners 
Yes
Venture - Series Unknown
Sequoia Capital

Sequoia Capital

Sequoia is a venture capital firm that helps daring founders build legendary companies from idea to IPO and beyond.

Sector

General Industrials

Subsector

Diversified Industrials

Location

Menlo Park, CA, USA

count Of Investments

1967

count Of Exists

319
Patrick Grady

Patrick Grady

A Wyoming native, Pat’s first job was putting roofs on houses, but he didn’t truly appreciate what it means to be a builder until he shared in the ups & downs of creating a company. Since joining Sequoia Capital in 2007, Pat has been singularly focused on supporting the next generation of great technology entrepreneurs. He gravitates toward people with the courage to bulldoze incumbents (ServiceNow, Okta, Birst, Qualtrics) and the audacity to break new ground (Jive, HubSpot, Achievers, Medallia). Pat is a casual cyclist (road or mountain), an enthusiastic snow bum (one plank or two), and a big believer in the renaissance of the enterprise. Prior to Sequoia, Pat was an inside salesman, an investor in a variety of sectors, and an undergrad at Boston College.

current job

Snowflake
Snowflake

People

Founders
2
Stephan Vermut
Stephan Vermut

Stephan Vermut

Stephan Vermut is Executive Chairman of Prosper Marketplace. In this role, Steve works closely with the company’s CEO and management team on the strategic direction of the business, as well as advises on day-to-day operations. Previously, he was a founder and managing partner of Merlin Securities, a prime brokerage service that used technology to allow for a customized approach to managing investment portfolios. Merlin Securities, which was backed by Sequoia Capital, was acquired by Wells Fargo in 2012. Following the acquisition, Steve joined Wells Fargo as Managing Director and Co-Head of Wells Fargo Prime Services. Before Merlin Securities, Steve founded Montgomery Prime Brokerage, which later became Bank of America Prime Brokerage and was acquired by BNP Paribas. Prior to Merlin Securities, he spent ten years as a Partner and Managing Director at Furman Selz in New York in the Prime Brokerage Division, part of the UBS Prime Brokerage platform. Earlier in his career, he was an institutional salesman at L.F. Rothschild & Co. and a securities analyst at Delafield and Delafield. Steve received a B.S. in Finance from Babson College, and serves on a number of boards.

organization founded

1

Stephan Vermut

Aaron Vermut
Aaron Vermut

Aaron Vermut

Aaron Vermut is an entrepreneur and business leader with over 20 years of experience in the technology and finance industries. He started his professional career as a senior consultant and database architect for Cambridge Technology Partners in San Francisco. After business school, Aaron was a Principal on the technology team at the the venture capital firm, New Enterprise Associates. After NEA, he co-founded and was a the Chief Operating Officer and later co-Managing Partner at Merlin Securities (sold to Wells Fargo in 2012). He was a Managing Director and the head of Prime Services at Wells Fargo Securities. In 2013, Aaron became the President and a member of the Board of Prosper Marketplace, Inc. He assumed the role of CEO a year later in 2014 and held that position until December of 2016. Aaron holds a bachelors degree in history and German language and literature from Washington University and an MBA in finance from The Wharton School at the University of Pennsylvania. Aaron is active with several philanthropic organizations in San Francisco. He currently serves as a Trustee and Chair of the Development Committee at the Exploratorium, an inquiry-based museum for scientific learning. He also serves the Vice Chair of the Board for Big Brothers Big Sisters of the Bay Area and is a member of the California Advisory Board at the Trust for Public Land.

Aaron Vermut

Employee Profiles
6
Marie Jorajuria

Marie Jorajuria

Team Member

Activity

Recent News
0