Group said it raised $16.6 million from a group of investors that includes an entrepreneur that created the first hedge fund in Beirut, Lebanon.

The operator of the online trading platform for fixed income securities, BondsPro, said Michel Daher, chairman of Daher Bonds Investment, has made a strategic investment.

Other investors in the round include Mida Holdings, Oak Investment Partners, and GFINet Inc.

Daher was named to the Group board.

Michel Daher, Chairman of DBIC, and Henri J. Chaoul, Ph.D., have been named to the Board of Group, Inc.

BondsPRO provides more than 70 thousand live prices on 10 thousand different issues from more than 300 contributing counterparties. BondsPRO posts live, anonymous, negotiable orders on a single bond or list basis, and permits price negotiation - executing global corporate fixed income efficiency trades on behalf of professional traders.

Daher is a Lebanese entrepreneur known originally for food-related enterprises, launched in Ferzol, Lebanon.

Daher was also a Partner and Board Member in FXCM, a leading online currency trading and contracts for difference broker.

Daher also co-founded and was the CIO of Master Trend Capital, the first hedge fund based in Beirut and licensed by the BDL.

Tom Steinert-Threlkeld writes for Securities Technology Monitor.


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