William Blair has acquired Armentum Partners, a boutique debt and alternative capital advisory firm serving venture-backed businesses, public companies and academic institutions.
Financial terms were not disclosed. William Blair said the transaction is its second investment banking acquisition of the year.
Armentum was founded in Silicon Valley with a focus on the healthcare and technology sectors. It raises debt and non-dilutive capital primarily for technology and healthcare companies, and has a royalty monetisation practice advising academic institutions and life sciences companies.
Armentum says it has raised over $22 billion since inception across 390-plus transactions. Its professionals are based in Boston, Chicago, Menlo Park, New York, Philadelphia and San Francisco, serving clients in the US and Europe.
William Blair said all Armentum Partners professionals are expected to join the firm as part of the transaction. Armentum will continue to operate under its own name for a period after closing, and William Blair will open an office in Menlo Park, giving it a presence in Silicon Valley.
Matt Zimmer, global head of investment banking at William Blair, said: "We continue to invest in capabilities and teammates who can provide differentiated outcomes for our clients across the venture capital, public company, and collegiate communities."
Clearsight Advisors, Inc., served as financial adviser to Armentum.