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Bond Platform Trumid Tops $1 Billion Valuation in Funding Round

  • Dragoneer led $200 million round, which included BlackRock
  • Investments endorse further electronification of bond trading
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Funds and accounts managed by T. Rowe Price Associates Inc. and BlackRock Inc. are among investors that contributed $200 million to Trumid Financial LLC in its latest fundraising round, more than doubling the bond trading platform’s valuation to over $1 billion since last May.

TPG also bought into the round, which was led by growth equity firm Dragoneer Investment Group LLC, Trumid said in a statement Tuesday. It plans to use the money to expand its products to include emerging markets and reach into new geographies like Asia.