Acuity Capital

What Acuity Capital does

Acuity Capital is an Australian proprietary investment company that provides At-the-Market (ATM) capital raising solutions to ASX-listed companies. Founded around 2012-2013, it was the first firm to introduce ATM solutions in Australia and remains the largest domestic provider, having established over 70 ATM facilities with $900M+ in standby capital and $160M+ in capital provided to client-counterparties through 2024. Its core product is the ATM facility itself — a flexible equity issuance mechanism that lets listed issuers raise capital on their own terms, with control over timing, minimum issue price, and maximum shares issued — supplemented by a self-service ATM Deal Portal for client counterparties.

The business operates a transaction-fee revenue model, charging quote-based fees for establishing and utilizing ATM facilities under what the company describes as a simple and transparent fee structure, typically positioned as lower-cost than traditional capital raising. Acuity Capital targets enterprise ASX-listed counterparties through direct field sales, supported by a website, direct phone outreach (1300 180 979), email inquiries, and LinkedIn presence. Its disclosed client base skews toward mining and lithium issuers (Lake Resources, Sayona Mining, Blackstone Minerals, Element 25, Venture Minerals, Tesoro Gold, Arizona Lithium), with select exposures to pharmaceuticals (Recce Pharmaceuticals, Cynata Therapeutics) and technology (Vection Technologies).

The company is founder-led and privately held with no disclosed external PE/VC backing. Co-founders Stephen Earl and Jeremy Glaros lead origination and operations. Physical presence spans Sydney (headquarters), Melbourne, and Perth, aligning with Australia's principal financial centers and mining hubs. The firm is explicitly not yet authorized to conduct business in the United States, though it references a U.S. office presence. Headcount is reported at 1-10, consistent with a boutique specialist operating model.

Name

Acuity Capital

Legal name

Acuity Capital Pty Limited

Website

https://acuitycapital.com.au

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Acuity Capital is a privately held Australian proprietary investment company that provides At-the-Market (ATM) capital raising solutions to ASX-listed companies, primarily mining and resource issuers, and is the first and largest ATM provider in Australia with 70+ facilities established.

Ownership category

akta.pro rank

Product category

Equity Capital Markets

NAICS

Investment Banking and Securities Intermediation (523150), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)

akta.pro primary industry

At-the-Market (ATM) Offerings (FSACAAAH)

akta.pro secondary industries

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

Keywords

• At-the-Market solutions
• Equity capital raising
• Capital markets services
• ASX capital solutions
• Standby capital facilities

Headquarters

HQ city

Barongarook

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. ATM Facility Fees: Acuity Capital generates revenue by providing At-the-Market (ATM) solutions to ASX-listed companies. They charge fees for establishing and utilizing ATM facilities, with a simple and transparent fee structure. The company acts as a capital provider offering standby capital facilities to client-counterparties.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Acuity Capital provides At-the-Market (ATM) capital raising solutions to ASX-listed companies, allowing issuers to raise equity capital on demand by issuing shares into the market across multiple trading days at prevailing prices. The firm also offers a self-service ATM Deal Portal that gives issuers direct control over the timing and quantum of share issuance, along with standby ATM facilities that remain undrawn until activated for opportunistic capital raises.

Product overview

Acuity Capital offers a unified At-the-Market (ATM) solution platform for Australian-listed companies. The core product is the ATM solution itself, which provides flexible capital raising capabilities, complemented by a client portal (ATM Deal Portal) for counterparties to manage their arrangements. The company positions itself as the preeminent and largest provider of ATM solutions in Australia, having implemented over 70 ATM solutions for ASX-listed companies.

Differentiator

Problem solved

Functional benefit

Products and services

• ATM Capital Raising Facility An At-the-Market (ATM) capital raising facility that allows ASX-listed issuers to raise equity capital on demand by issuing shares into the market across multiple trading days at prevailing prices, providing flexible, cost-effective access to growth capital with minimal share price impact.
• ATM Deal Portal A self-service online portal that gives ASX-listed issuers direct control over the timing and quantum of share issuance under their ATM facility, streamlining capital management without reliance on intermediaries for each transaction.
• Standby ATM Facility A standby At-the-Market facility that remains undrawn and available for issuers until they elect to activate it for opportunistic capital raises, providing on-demand access to equity capital without immediate dilution.

Quantifiable outcome

• Over US$135 billion made available through ATMs to 450+ US organisations in 2024 alone
• +2 more outcomes

Named customers10 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves4 records

Expansion highlights3 records

Regional players

• Ord Minnett: Australian private wealth management and corporate advisory firm with ECM and capital raising capabilities for ASX-listed companies. Comparable to Acuity as an Australian ECM intermediary serving the same issuer client segment.
• Bell Potter Securities: Australian full-service stockbroker and corporate advisory firm serving ASX-listed small/mid-cap issuers with equity capital markets and capital raising services. Comparable to Acuity as a domestic capital markets intermediary targeting the same issuer base.
• Petra Capital: Australian boutique investment bank focused on small/mid-cap ASX-listed companies across ECM, placements, and corporate advisory. Comparable to Acuity in client segment (ASX small/micro-cap) and capital-raising service offering, though without a dedicated ATM franchise.
• Wilsons Advisory: Australian corporate advisory and stockbroking firm providing ECM advisory, placements, and capital raising services to ASX-listed companies. Most directly comparable Australian peer in the equity capital markets and capital advisory space, though not specialized in ATM specifically.

Direct peers

• BTIG: US broker-dealer with a dedicated ATM and equity capital markets franchise serving small and mid-cap issuers. Comparable to Acuity in product focus (ATM as primary offering) and target market (small/micro-cap public companies), though operating in the US market.
• Cantor Fitzgerald: Major US-based financial services firm with one of the largest dedicated ATM underwriting and equity capital markets franchises globally. Most directly comparable to Acuity Capital because ATM issuance is a core service line, serving US-listed issuers across market caps with the same product (ATM facilities) that Acuity offers to ASX-listed companies.
• B. Riley Financial: US diversified financial services firm with a substantial ATM and equity capital markets business for small and mid-cap issuers. Comparable to Acuity because ATM issuance is a core part of its capital markets offering, though it operates at significantly larger scale and breadth.
• H.C. Wainwright & Co. US boutique investment bank specializing in ATM offerings and equity capital markets for small and mid-cap issuers. Highly comparable to Acuity Capital in serving the small/micro-cap end of the public-company market with ATM as a primary product line.

Broad incumbents

• Jefferies Financial Group: Large global investment bank with ATM underwriting, ECM advisory, and execution capabilities across market caps. A potential competitive threat to Acuity if Jefferies targets the Australian small/micro-cap ATM segment, though today it primarily serves larger US issuers.
• TD Cowen: US investment bank (formerly Cowen Inc., now part of TD Securities) with ECM advisory and ATM capabilities across small and mid-cap issuers. Comparable to Acuity through overlapping equity capital markets activity, though as part of a much broader institutional brokerage franchise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/acuity-capital
• Xx.com/AcuityCap

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Acuity Capital