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LabMorgan, Dresdner Kleinwort, others invest $30M in Capital IQ

Published on .

New York--LabMorgan, the e-finance arm of J.P. Morgan Chase & Co., Dresdner Kleinwort Wasserstein and others have jointly invested $30 million in Capital IQ Inc., which develops e-business software for the b-to-b investment banking industry. New York-based Capital IQ, launched in 1999, develops e-business banking and trading platforms that, among other things, facilitate transaction management. LabMorgan also intends to aid Capital IQ in developing its platforms, which J.P. Morgan Chase will use. "Our investment bank e-strategist, incubation and portfolio development teams will be working with Capital IQ's management and technology and research engineering teams to deliver competitive performance enhancements to the industry and our own bankers," said Nic Rohatyn, LabMorgan's co-head. Other participants in the financing round included Merrill Lynch & Co. and Credit Suisse First Boston Corp., both of New York.
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