What Paulson Investment Company does

Paulson Investment Company, LLC is a privately held boutique investment banking firm founded in 1970 and headquartered in the Portland, Oregon area (Lake Oswego), operating as a subsidiary of Paulson Capital Holding Company, LLC. The firm provides capital markets services to small and mid-cap companies, with particular focus on life sciences (biotechnology, pharmaceuticals, medical devices) and technology sectors. Its core offerings are organized across four interconnected product lines: (1) Investment Banking Services, acting as placement agent on PIPEs, registered direct offerings, Regulation D offerings, secondaries, and IPOs, with disclosed transaction sizes ranging from under $1 million to over $100 million; (2) Institutional Sales & Trading, providing market making and execution in Exchange Listed, NASDAQ, and OTC equities (domestic and foreign) for broker/dealers, hedge funds, and high net worth individuals, with access to multiple exchanges, algorithmic strategies, and dark pools; (3) Private Equity Investment Sales / Wealth Management, distributing investment banking products and providing fee-based advisory services to institutions and HNW individuals (enhanced by the January 2024 acquisition of Orca Investment Management); and (4) Market Making. The firm executes transactions through eleven US offices spanning the Pacific Northwest, Northeast, Southeast, Midwest, and West Coast, and has participated in over 175 public and private offerings with cumulative placements exceeding $1.2 billion since founding.

The firm generates revenue primarily through transaction-based fees (placement agent commissions, trading spreads and commissions on market-making activity) supplemented by recurring fee-based investment advisory revenue post-Orca. Pricing and fee schedules are not publicly disclosed and are negotiated transaction by transaction; sales-side compensation for representatives is commission-based with draw packages available for candidates carrying existing books of business. The go-to-market is sales-led and relationship-driven: deal sourcing relies on the executive team's industry networks (the trading team alone carries 200+ years of combined experience), direct outreach by Managing Partner and Director of Business Development Robert Setteducati, and referrals within the small/mid-cap ecosystem. The firm maintains FINRA broker-dealer registration and supporting technology infrastructure — built and maintained by CTO Tim Haakenson — covering electronic trading, compliance, clearing, and reporting systems. The executive syndicate that recapitalized the firm (Chairman Chris Clark, CEO/General Counsel Amal Amin, President/CFO Alex Winks, Senior Managing Partner Thomas Parigian, Managing Partner Robert Setteducati, CTO Tim Haakenson, and CCO Kathy Rasmussen) collectively brings several decades each of experience at firms including Lehman Brothers, Black & Co., JP Morgan Chase, and Drexel Burnham Lambert.

Name

Paulson Investment Company

Legal name

Paulson Investment Company, LLC

Website

https://paulsoninvestment.com

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

101–250 employees

Short description

Paulson Investment Company is a privately held boutique investment bank founded in 1970 that provides capital raising (PIPEs, secondaries, IPOs), institutional market making, and wealth management services to small and mid-cap companies, primarily in biotechnology and technology, operating through eleven US offices.

Ownership category

akta.pro rank

Product category

Investment Banking

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)

akta.pro secondary industries

Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Investment banking services
• Capital raising advisory
• Equity market making
• Institutional trading services
• Private placement agent

Headquarters

HQ city

Lake Oswego

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Placement Agent Fees: Paulson generates revenue by acting as placement agent for capital raises. The firm earns fees on successful transactions including private placements, registered direct offerings, PIPES, Regulation D offerings, secondaries, and IPOs. Transaction sizes vary from under $1 million to over $100 million.
2. Market Making and Trading: The firm generates revenue through market making activities in Exchange Listed, NASDAQ and OTC equities, both foreign and domestic. The Institutional Sales & Trading Team executes orders from broker/dealers, hedge funds and high net worth individuals.
3. Investment Advisory Services: Paulson provides fee-based investment advisory services and wealth management services to institutions and high net worth individuals.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Paulson Investment Company, LLC is a boutique investment banking firm providing capital raising, placement agent services, and advisory for small to mid-cap companies through products including PIPEs, registered direct offerings, Regulation D offerings, secondaries, and IPOs. The firm also operates an institutional sales and trading desk that makes markets in Exchange Listed, NASDAQ, and OTC equities for broker/dealers, hedge funds, and high net worth individuals, alongside wealth management and private equity investment product distribution.

Product overview

Paulson Investment Company, LLC is a boutique investment banking firm focused on small to mid-cap markets with over 50 years of experience. The firm operates as a unified platform offering four interconnected core services: Investment Banking Services (capital raising, M&A advisory, placement agent functions), Institutional Sales & Trading (execution services, market making), Private Equity Investment Sales (wealth management, product distribution), and Market Making (Exchange Listed, NASDAQ and OTC equities). The firm has participated in over 175 public and private offerings and raised over $1.2 billion in capital.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Banking Services Full-service investment banking for small to mid-cap companies, including capital raising, M&A advisory, and placement agent services for public and private offerings (PIPEs, registered direct offerings, Regulation D offerings, secondaries, IPOs). Targeted at emerging growth companies in life sciences, biotechnology, medical devices, technology, and related sectors.
• Institutional Sales & Trading Broker/dealer, hedge fund, and high net worth individual execution services with market making in Exchange Listed, NASDAQ, and OTC equities (domestic and foreign). Provides access to multiple exchanges, algorithmic strategies, and dark pools for quality trade executions.
• Private Equity Investment Sales Wealth management services and investment banking product sales targeting institutions and high net worth individuals, with emphasis on emerging companies in biotechnology and technology industries.
• Market Making Market making services for Exchange Listed, NASDAQ, and OTC equities, both foreign and domestic, to ensure high-quality executions and provide liquidity to customers including broker/dealers, hedge funds, and high net worth individuals.

Quantifiable outcome

• Over $1.2 billion raised across 175+ public and private transactions since founding in 1970
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Partnerships

One partnership is on record.

• JWTT, Inc.coreStrategic or Co-development Partner · 22 October 2025Paulson Capital Holding Company, LLC acquired JWTT, Inc., a community banking sector-focused investment bank and broker-dealer. The acquisition aims to expand Paulson's market presence and improve services through JWTT's existing market-making and trading capabilities. JWTT will continue its operations as a subsidiary, bringing additional expertise in serving the community banking sector.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• National Securities Corporation: Full-service broker-dealer and investment bank where Managing Partner Robert Setteducati previously served as EVP of Sales. Competes in small/mid-cap IB and retail-institutional brokerage distribution.
• Roth Capital Partners: Boutique investment bank and broker-dealer focused on small/mid-cap companies, with deep coverage in life sciences, technology, and consumer sectors. Direct competitor for PIPEs, follow-ons, and IPOs in Paulson's core verticals.
• Lake Street Capital Markets: Mid-market full-service broker-dealer offering IB, institutional research, sales/trading, and market making. Comparable in scale and target issuer profile, with similar focus on small/mid-cap growth companies.
• EF Hutton (formerly Aegis Capital): Full-service broker-dealer and investment bank with lineage to Rodman & Renshaw (where several Paulson healthcare IB alumni previously worked). Competes in small/mid-cap capital markets and has been an active acquirer in the broker-dealer space.
• Maxim Group: Full-service boutique broker-dealer and investment bank with comparable small/mid-cap IB, equity research, and institutional trading capabilities. Competes directly for PIPEs, registered directs, and follow-on financings in biotech and technology.
• A.G.P. / Alliance Global Partners: Mid-market full-service broker-dealer offering IB, institutional sales/trading, and wealth management — a near-identical business model to Paulson, competing head-to-head for small-cap healthcare and technology placements.
• Aegis Capital (B. Riley | Aegis Capital): Full-service broker-dealer and investment bank focused on small/mid-cap equities with active market-making and placement agent businesses. VP of Institutional Sales Michelle Teitelbaum previously traded at Aegis. Direct competitor in PIPEs and small-cap trading.
• D. Boral Capital: Boutique investment bank and broker-dealer active in small-cap PIPEs, registered directs, and secondaries. Comparable scale and product mix to Paulson, particularly in healthcare and technology verticals.
• HRA Capital: Healthcare-focused boutique merchant bank; Paulson's Head of IB (Marta Wypych) and Senior Managing Director Jainal Bhuiyan both joined Paulson directly from HRA Capital, where Wypych was MD of IB and Bhuiyan was a partner. Direct overlap in healthcare equity capital markets.

Broad incumbents

• B. Riley Financial: Larger diversified financial services firm with full-service IB, brokerage, and wealth management businesses. Operates broadly in the same small/mid-cap ecosystem but at materially greater scale; competitor for larger placements and institutional trading flow.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/paulson-investment-co-

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paulson Investment Company