As part of the agreement, a fund affiliated with Atlas Merchant Capital will provide strategic growth equity investment to Cascadia Capital.
The investment, which is subject to the US Financial Industry Regulatory Authority (FINRA) approvals, is aimed at helping Cascadia to expand its operations and products.
The firm will also use the capital to expand its existing headcount, including bankers and cohesive staffs, with the new investment.
Cascadia Capital chairman and CEO Michael Butler said: “We have achieved record growth in recent years and are thrilled to have found the right partners in Atlas to continue on this exciting trajectory.
“Atlas brings the value-added resources we desired in a capital partner, allowing us to continue in lockstep with the middle-market founders, family owners, and executives we serve while accelerating our private equity coverage and product offering expansion.”
Currently, Cascadia offers businesses and investors with solutions that are used in various sectors such as business services, consumer and retail as well as energy transition and climate tech, among others.
It has presence in several American markets such as Seattle, Austin, Los Angeles, Minneapolis, and Nashville.
Atlas Merchant Capital founding partner and CEO Bob Diamond said: “Across the broader investment banking landscape, large Wall Street banks have become less entrepreneurial, less versatile, and more like utilities.
“This shift — coupled with the recent wave of consolidation — underscores the critical need for what Cascadia brings to the market as an innovative and flexible independent firm.”
Diamond founded Atlas Merchant Capital in association with David Schamis.