Richmond-based ZE Power has received a significant investment from FTV Capital and has been renamed ZEMA Global Data Corporation.
ZE Power was founded by Zak El-Ramly and provides data and analytics solutions to large multi-national organizations in the energy and commodities industry.
ZEMA Global Data Corporation announced Tuesday it has secured a significant growth equity investment from FTV Capital, an investment firm with a 25+-year track record of investing in enterprise and financial technology.
Alongside FTV Capital’s investment, ZEMA also announced the appointment of Andrea Remyn Stone to the role of chief executive officer, effective immediately.
Most recently, Stone was the CEO of the data and analytics division of the London Stock Exchange Group (LSEG), where she accelerated the growth of its data and analytics division (formerly Refinitiv) while reshaping the business portfolio and refocusing large-scale data and desktop platforms.
Stone led transformations with several global fintech organizations including Bloomberg, S&P Global, Dealogic and ION. In 2022, she was named to the inaugural TabbFORUM 40 Top Innovators in Financial Markets.
El-Ramly will continue to be involved in the business, assuming the role of chairman of ZEMA and working alongside Stone to continue driving the company’s vision and growth trajectory.
“ZEMA has established itself as a leading provider of enterprise data and analytics solutions that automate workflows and deliver tangible ROI (return on investment) for customers,” said Brent Fierro, principal at FTV Capital. “We’re excited for the opportunity to partner with ZEMA to help the company meaningfully scale, invest in customer-centric initiatives and further solidify its strong offering in the market.”
Alongside existing board members Zak El-Ramly (chairman), Aiman El-Ramly and Nader El-Ramly, as part of this growth investment, Robert Anderson, partner at FTV Capital, Fierro, Payam Vadi, vice-president at FTV Capital, and Stone joined ZEMA’s board of directors.
D.A. Davidson served as exclusive strategic and financial advisor to ZEMA Global Data Corporation.
Financial terms were not disclosed.
ZEMA Global Data is located at No. 2 Road and Westminster Highway.
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