CM Finance

What CM Finance does

CM Finance is a publicly-traded, externally-managed, closed-end, non-diversified management investment company — specifically structured as a Business Development Company (BDC) under the Investment Company Act of 1940 — listed on NASDAQ under the ticker CMFN since its 2013 founding and headquartered in New York. As a BDC, its functional purpose is to provide debt and equity financing to, and acquire qualifying investments in, small and mid-sized private operating companies; its end customers are the portfolio companies and the investors in its common stock who are entitled to its earnings and distributions on a pass-through basis.

The company's operating model is external management: with 1–10 employees recorded, day-to-day portfolio management, origination, and administrative functions are performed by a separate external investment adviser rather than internal staff — this is the structural norm for BDCs of this size and is consistent with the firmographics supplied. The firm does not appear to operate proprietary technology, consumer-facing products, or distribution channels. Its corporate domain (cmfn-inc.com) is currently expired and displaying a Spaceship, Inc. parking page, which limits visibility into current operations, board materials, SEC filings mirrors, and portfolio disclosures — a material information gap for any prospective investor or counterparty.

Direct financial information — investment income, net asset value, portfolio composition, expense ratios, leverage, distributable earnings, or share price — is not present in the supplied data. As such, revenue mechanics, fee structure with the external adviser, dividend policy, and capital-markets activity cannot be characterized from this input; any analysis on those dimensions requires reference to SEC filings (10-K/10-Q/N-CSR) on EDGAR, which would also clarify whether the BDC remains in active operation, is in run-off, or is pursuing a strategic transaction.

Name

CM Finance

Legal name

Not available - no legal entity information found in source content

Website

https://cmfn-inc.com

Company type

Private

Founded year

2013

Headcount range

1–10 employees

Short description

CM Finance is a publicly-traded (NASDAQ: CMFN), externally-managed, closed-end non-diversified management investment company (BDC) founded in 2013 and headquartered in New York, providing financing to small and mid-sized private companies through its regulated BDC structure.

Ownership category

akta.pro rank

Product category

Closed-End Investment Fund

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (525990)

SIC

Miscellaneous Business Credit Institution (6159), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Specialty Finance / Structured Credit (FSANADAE)

Keywords

• Business development company
• Closed-end fund
• Investment management
• Debt financing
• Specialty finance

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Others, Personnel

Core offering

CM Finance is an externally-managed, closed-end, non-diversified management investment company. It operates as a publicly traded investment vehicle that deploys capital into securities consistent with its specialty finance mandate, with day-to-day investment management delegated to an external adviser.

Differentiator

Problem solved

Functional benefit

Products and services

• CM Finance Investment Vehicle An externally-managed, closed-end, non-diversified management investment company that provides public market investors with exposure to specialty finance and middle-market debt and equity investments via NASDAQ-listed shares under ticker CMFN.

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves1 record

Direct peers

• Stellus Capital Investment Corp: Stellus is a small-cap, externally-managed, non-diversified BDC providing senior and unitranche loans to middle-market companies — virtually identical structural and strategic profile to CM Finance.
• Saratoga Investment Corp: Saratoga is an externally-managed, non-diversified BDC focused on first-lien and stretch senior loans to U.S. middle-market companies; highly comparable mandate and capital-markets profile to CM Finance.
• BlackRock Capital Investment Corporation: Externally-managed, non-diversified BDC that invests in middle-market companies, sponsored by BlackRock; same BDC charter and structural approach as CM Finance, with a stronger sponsor.
• Oxford Square Capital Corp: Oxford Square is an externally-managed, non-diversified closed-end fund that invests in CLO debt and related structured credit — adjacent BDC-type vehicle with a similarly small headcount and externally-managed model.
• Portman Ridge Finance Corporation: Portman Ridge is a publicly-traded BDC formed from the merger of Garrison Capital and CM Finance; operates as a direct-lending BDC and is the successor platform to CM Finance's strategy.
• WhiteHorse Finance: WhiteHorse Finance is an externally-managed BDC targeting first-lien and second-lien loans to lower-middle-market borrowers; comparable size, externally-managed structure, and middle-market focus.
• Garrison Capital (defunct; rolled into Portman Ridge): Garrison Capital was a small, externally-managed, non-diversified BDC focused on middle-market direct lending — essentially a near-clone of CM Finance's structure and was its merger partner, making it the closest comparable.

Broad incumbents

• Ares Capital Corporation: Ares Capital is the largest publicly-traded BDC, providing senior and mezzanine debt to middle-market companies; operates in CM Finance's exact specialty but with vastly greater scale, origination capacity, and balance sheet.
• Prospect Capital Corporation: Prospect is a large, externally-managed, non-diversified BDC with a broader, more flexible mandate across debt and structured equity of middle-market issuers — same broad BDC model as CM Finance, but at much greater scale.
• Goldman Sachs BDC, Inc. Goldman Sachs BDC is a regulated BDC focused on senior secured loans to middle-market companies; same BDC regulatory regime as CM Finance, with a blue-chip sponsor.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/cm-finance

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 CM Finance