Ceros Capital Markets

What Ceros Capital Markets does

Ceros Capital Markets is the investment banking division of Ceros Financial Services, Inc., a private FINRA/SIPC-member broker-dealer headquartered in Rockville, Maryland with a secondary office in Norwalk, Connecticut. The firm specializes in private and public capital formation for early-stage companies developing disruptive technologies in medical devices, surgical robotics, digital health, and biotech, raising capital exclusively through SEC Regulation D private placements available to accredited investors. Its portfolio of executed transactions includes Wesper, GT Metabolic Solutions, DermaSensor, Cordio Medical, Aquyre Biosciences, Pristine Surgical, TriSalus Life Sciences, Momentis Surgical, Insightec, Accuryn Medical (formerly Potrero Medical), and OrthoSensor (acquired by Stryker), with cumulative capital raised exceeding $300M.

The firm originated as Robotic Ventures in 2000-2001, founded by Chris Dewey and Mark Goldwasser, whose early bets included iRobot and Z-KAT Inc. and led to the development of MAKO Surgical (sold to Stryker for $1.65B in 2014). In June 2019, DGB (Dewey, Goldwasser, Dave Brown) acquired Ceros Financial Services as the operating platform, then expanded in 2022 by adding the Norwalk office and merging with Roger Monteforte's Forte Capital Group, launching Innovation X Advisors (an RIA advising the privately held Innovation X Funds focused on the unicorn ecosystem). Reported combined consolidated revenue grew from $6.5M in 2019 to over $103M in 2025, with assets under management and administration rising from $3.8B to more than $11B.

Revenue is generated primarily through transaction-based placement-agent fees on private placements, supplemented by AUM-linked economics from Innovation X Advisors. Distribution is direct, relationship-driven, and gated to accredited investors, with deal sourcing conducted through industry conferences, strategic-co-investor referrals (including Dr. Frederic Moll, Maurice Ferré, David Matlin), and earned media. The firm operates with a lean team of approximately 11-50 employees, leveraging the cumulative four-decade Wall Street experience of its named partners to deliver placement-agent mandates across Series A through later-stage and structured secondary transactions.

Name

Ceros Capital Markets

Legal name

Ceros Financial Services, Inc.

Website

https://ceroscapitalmarkets.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Ceros Capital Markets is the investment banking division of Ceros Financial Services, a private FINRA/SIPC broker-dealer that raises private and public capital exclusively for accredited investors backing early-stage companies in medical devices, surgical robotics, digital health, and biotech.

Ownership category

akta.pro rank

Product category

Investment Banking

NAICS

Investment Banking and Securities Intermediation (52315)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness) (FSACAAAI)

Keywords

• Investment banking services
• Private placement agent
• Capital formation services
• Medtech financing
• Accredited investor offerings

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Investment Banking / Placement Agent Fees: Ceros Capital Markets earns fees as placement agent for private and public capital formation transactions. The firm acts as placement agent in financing rounds for portfolio companies, including Series A through later-stage rounds. Revenue is transaction-based, derived from capital raised on behalf of client companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Ceros Capital Markets operates as the investment banking division of Ceros Financial Services, Inc., a FINRA/SIPC-registered broker-dealer. The firm acts as placement agent for private and public capital formation transactions on behalf of early-stage companies developing disruptive technologies in medical devices, surgical robotics, digital health, and biotech. All offerings are structured as Regulation D private placements available exclusively to accredited investors, with complementary RIA services offered through Innovation X Advisors.

Product overview

Ceros Capital Markets operates as a capital formation and investment banking platform for disruptive technology companies. The firm provides private and public capital raising services, acting as placement agent for early-stage ventures in medical devices, surgical robotics, digital health, and biotech sectors. Their portfolio spans companies developing innovative solutions including cancer detection devices, surgical robotics systems, heart failure monitoring, and sleep therapy platforms. The company is a division of Ceros Financial Services and is complemented by Innovation X Advisors, an RIA focused on private markets opportunities.

Differentiator

Problem solved

Functional benefit

Products and services

• Capital Formation / Placement Agent Services
• Innovation X Advisors (RIA)

Quantifiable outcome

• Revenue growth from $6.5M to $103M (+17x) since 2019
• +1 more outcomes

Named customers11 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Maxim Group: Full-service mid-market investment bank with strong healthcare and technology verticals, providing capital raising and advisory services to emerging-growth companies. Closely comparable to Ceros in deal size, sector focus, and accredited-investor distribution model.
• Aegis Capital: Full-service broker-dealer and investment bank focused on small- and mid-cap equities, with active capital markets and institutional sales capabilities serving emerging-growth issuers. Direct overlap with Ceros' placement-agent business for early-stage companies.
• National Securities Corporation: Independent broker-dealer and investment bank where CEO Mark Goldwasser was previously CEO and Executive Chairman. Comparable business model around small-cap capital formation and independent broker-dealer services.
• Ladenburg Thalmann: Diversified mid-market financial services firm with investment banking, capital markets, and wealth management capabilities. Comparable to Ceros in serving small/mid-cap issuers via private placements and capital raises.
• H.C. Wainwright & Co. Healthcare-focused investment bank that runs PIPEs, registered direct offerings, and private placements for small- and mid-cap life sciences and medtech issuers. Highly comparable to Ceros' specialization in capital formation for disruptive medical technology companies.
• Paulson Investment Company: Broker-dealer specializing in IPOs, follow-ons, and private placements for emerging-growth companies, with a particular emphasis on healthcare and life sciences. Ahmed Gheith began his career at Paulson, and the firm mirrors Ceros' placement-agent model.
• WestPark Capital: Los Angeles-based investment bank serving small-cap and emerging-growth companies across technology, healthcare, and consumer. Joseph Hain previously served as Senior VP at WestPark; comparable in scale, customer type, and transaction model.
• Noble Capital Markets: Mid-market broker-dealer and investment bank focused on small-cap and emerging-growth companies, with significant healthcare/biotech and technology coverage. Joseph Hain and Ahmed Gheith on Ceros' team both came from Noble, making its offerings and culture closely comparable to Ceros Capital Markets.

Broad incumbents

• Jefferies: Global full-service investment banking and capital markets firm with extensive healthcare and technology coverage. Chris Dewey was previously EVP at Jefferies. Represents the larger, established competitor that Ceros' portfolio companies will likely graduate toward at later stages.
• Stifel Financial: Diversified mid- to large-cap investment bank and wealth manager with deep healthcare equity capital markets capabilities. Jeffrey Engel previously served as a senior executive in Credit Sales and Trading at Stifel, and the firm is a potential larger competitor in healthcare ECM.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ceros-capital-markets

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

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

M&A

Investments4 records

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

Frequently asked questions about Ceros Capital Markets