Dan Ives and Yorkville form merchant bank focused on AI financing

Dan Ives has joined with Yorkville Securities to create Yorkville Ives & Co., a merchant banking firm aimed at companies tied to artificial intelligence and other capital-intensive growth sectors. The firm said Tuesday it will offer investment banking, equity research, institutional trading and principal investing, placing Ives’s public markets profile behind a broader financing and advisory platform.

Ives, among the most visible technology analysts on Wall Street, will serve as partner and senior managing director, according to the announcement. Roger Briggs will be chief executive officer.

The firm said its areas of focus will include artificial intelligence, technology, industrials, energy transition and infrastructure. That sector mix links the business to areas where companies often need repeated access to capital markets, including funding for computing infrastructure, data centers and other technology investment.

What the new firm plans to do

Yorkville Ives & Co. said it will advise companies on mergers and acquisitions, capital structure and other corporate transactions. It also plans to raise debt and equity capital for clients in both public and private markets.

The firm said it will provide institutional trading and execution services, as well as independent equity research. In addition, Yorkville Ives said it intends to put its own money into deals alongside clients and partners.

That combination is central to the merchant banking model. Traditional advisory work centers on arranging capital or advising on transactions for fees. Principal investing adds a balance-sheet component, allowing the firm to deploy its own capital in selected transactions, subject to the firm’s own investment decisions and risk controls.

“The fourth industrial revolution is here, and it needs a new kind of bank, a modern merchant bank,” Ives said in the statement. “Research, banking, trading, and capital, all under one hood, all pointed at the biggest transformation the markets have ever seen.”

Ives leaves sell-side role for broader platform

Ives spent the past eight years at Wedbush Securities and has covered technology stocks for more than 25 years. He built a large following through optimistic commentary on artificial intelligence and large technology companies, as well as a highly visible media presence.

He said earlier this month that he was leaving Wedbush to pursue a new venture. The Yorkville partnership gives him a role that extends beyond sell-side research into transaction advisory, capital raising and investing.

During his time at Wedbush, Ives also held roles outside the standard remit of an equity analyst. He served on the advisory board of Zeta Global and briefly chaired Eightco Holdings. At Eightco, he helped oversee a crypto treasury strategy centered on Worldcoin, the digital token linked to Sam Altman’s identity company, World.

The launch comes as Wall Street firms compete for mandates tied to artificial intelligence investment. Companies across technology and infrastructure markets have sought financing for chips, computing capacity, power and data-center buildouts, creating demand for capital markets advice and execution services.

Yorkville Ives has not disclosed financial terms of the venture, initial capital commitments or staffing levels beyond the roles named in its announcement.

This story draws on original reporting from CNBC.