Nashville's Shareholder Insite sold to N.Y. firm

Nashville entrepreneur Joe Maxwell sold his company, Shareholder Insite, to a New York-based capital markets data company recently purchased by Goldman Sachs and Blackstone.

Shareholder Insite provides data management, analytics and valuation services for venture capital and private equity investors. The New York company, Ipreo, will use Shareholder Insite to build its expertise in alternative assets.

"We are excited to join an organization with Ipreo's global scale, strong financial backing and deep expertise in delivering high quality capital-raising solutions," Maxwell, CEO of Shareholder Insite, said in a statement. "We are looking forward to leveraging our combined resources and knowledge to accelerate our growth and enhance the insights and efficiencies we bring to our clients."

Shareholder InSite employs close to 50 people, with offices in Nashville, San Francisco, Boston and Boulder, Colo. Its management team will lead Ipreo's alternative assets segment from Nashville and Maxwell will serve as managing director.

"Expanding our footprint to include pre-public companies and their financial sponsors is a logical extension of our offering," Kevin Marcus, president of Ipreo, said in the statement. "We have long seen a need in this area for the kind of automation and efficiencies that Shareholder InSite solutions provide."

Maxwell began working on Shareholder Insite in 2008 after selling his previous company, Investment Scorecard. Shareholder Insite has raised more than $8 million in investment dollars, with at least $600,000 from TNInvestco, the state investment program meant to support Tennessee startups.

Reach Jamie McGee at 615-259-8071 and on Twitter @JamieMcGee_.