Deals
Cubs Owner Ricketts Merges Bond Broker With Fintech Startup
- Incapital will fuse with 280 CapMarkets to create InspereX
- Ricketts seeks to reinvigorate company’s focus on technology
This article is for subscribers only.
Tom Ricketts, the owner of the Chicago Cubs, says his bond broker Incapital LLC lost its technological edge while he spent the past decade building one of the most-successful teams in baseball.
The billionaire believes he’s found a solution: merging the business with a San Francisco-based fintech startup called 280 CapMarkets LLC. The deal creates a new company called InspereX, with Ricketts serving as the chairman and largest owner. The companies declined to give terms of the deal.