Blackstone Takes Stake in Data Management-as-a-Service Startup MDI

Investment and public backing provides growth funding and validation of MDI's business model

rich-sigillo

The announcement of Blackstone as an investor and a client represents a "validation of our business model and an agreement with the direction that we see the market going in--that managed services are going to become more critical as part of the solution set for financial firms," says Sigillo, principal at MDI. "And the fact that Blackstone has made an investment in us positions us to grow much faster than we could have organically."

Blackstone chief technology officer William Murphy says the fi