What is Crossroads Systems?
Crossroads Systems, Inc. (OTCQX: CRSS) operates as a holding company dedicated to investing in enterprises that foster economic vitality and community development. Through its subsidiary, Capital Plus Financial (CPF), a certified Community Development Financial Institution (CDFI) and certified B-Corp, Crossroads Systems actively supports Hispanic homeownership via a long-term, fixed-rate single-family mortgage product. This dual focus on investment and community impact positions Crossroads Systems uniquely within its market.
How much funding has Crossroads Systems raised?
Crossroads Systems has raised a total of $366.1M across 7 funding rounds:
Unspecified
$10M
Unspecified
$3M
Unspecified
$8.6M
Debt
$10M
Unspecified
$4.5M
Private Equity
$180M
Debt
$150M
Unspecified (2010): $10M, investors not publicly disclosed
Unspecified (2012): $3M, investors not publicly disclosed
Unspecified (2013): $8.6M, investors not publicly disclosed
Debt (2013): $10M featuring Fortress Investment Group
Unspecified (2014): $4.5M, investors not publicly disclosed
Private Equity (2022): $180M with participation from P10 and Conversion Capital
Debt (2022): $150M led by Texas Capital Bank
Key Investors in Crossroads Systems
Conversion Capital
Conversion Capital is a venture capital firm that invests in transformative businesses within the global economy, focusing on early-stage, long-term investments in AI, cloud infrastructure, and software companies. Since its inception in 2015, the firm has been dedicated to guiding leaders in these sectors, providing resources from day one.
Texas Capital Bank
Founded in 1998, Texas Capital Bank, the principal subsidiary of Texas Capital Bancshares, is a commercial bank that delivers financial services to Texas-based businesses. The company is headquartered in Dallas, Texas.
Fortress Investment Group
Fortress Investment Group, founded in 1998 and headquartered in New York, is a global investment management firm specializing in a diverse range of financial services. The company manages hedge funds, balanced mutual funds, real estate funds, and private equity funds for various clients including institutions, corporations, and organizations.
What's next for Crossroads Systems?
The recent major strategic investment signals a new phase of growth and operational scaling for Crossroads Systems. This capital infusion is expected to accelerate the expansion of its subsidiary, Capital Plus Financial, and enhance its capacity to support community development initiatives, particularly in the realm of affordable housing. The company's strategic focus on economic vitality, coupled with its commitment to community development, suggests a forward-looking approach aimed at sustainable growth and impactful market presence.
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