NEW YORK, July 24, 2014 /PRNewswire/ -- SternAegis Ventures applauds Deem, Inc. on the completion of its recapitalization financing as well as on raising $50 million in expansion capital. Deem is a leading cloud and mobile commerce company, delivering Commerce-as-a-Service (CaaS) to a large and diverse ecosystem of customers, merchants and partners enabling them to lower costs, increase revenue and deepen customer loyalty. On July 21, 2014, Deem announced the completion of its recapitalization. The principals of as well as investors introduced by SternAegis Ventures participated in the recapitalization financing. On July 23, 2014, Deem announced it had raised $50 million in expansion capital funding.
Patrick Grady, CEO of Deem, said of SternAegis Ventures, "We needed an investment banking team who could understand the complexities of our situation and share the vision for our restructured company. Having a longstanding relationship with Adam Stern, I am fortunate that SternAegis Ventures has been providing capital and its expertise as we reposition our company for accelerated growth."
Adam Stern, CEO of SternAegis Ventures and Head of Private Equity Banking at Aegis Capital Corp., said, "Our mission is to finance passionate, world-class management teams with disruptive technology. Accordingly, we are delighted to be working with Deem and its CEO Patrick."
About SternAegis Ventures
SternAegis Ventures is the management team within Aegis Capital Corp.'s Private Equity Banking group that is responsible for venture capital financing. SternAegis is committed to identifying and financing ventures that can potentially realize above-average returns for investors willing and able to accept above-average risk.
Founded in 1984, Aegis Capital Corp. is a full service retail and institutional broker-dealer located in New York City. Aegis Capital Corp. is a Member of FINRA and SIPC.
For more on SternAegis Ventures, visit www.sternaegis.com
For more on Aegis Capital Corp., visit www.aegiscapcorp.com
For more on Deem, Inc., visit www.deem.com
For inquiries, contact Roger Baumberger, SternAegis Ventures (646) 502-2511
An affiliate of SternAegis Ventures provides consulting services to Deem, Inc. SternAegis Ventures has in the past and may in the future provide financial advisory services to DEEM. Principals and affiliates of SternAegis Ventures own equity positions in Deem, Inc.
SOURCE SternAegis Ventures