Texas Stock Exchange Parent Raises $155 Million in Third Funding Round

TXSE Group Inc., the parent of the Texas Stock Exchange, raised $155 million in a third funding round, bringing total funding to $430 million, the Dallas-based company said Wednesday. Existing shareholders provided about three-quarters of the new capital, with the remainder from new backers the company did not identify. The exchange, which received federal regulatory authorization a year ago, has lured initial primary listings including Energy Transfer LP and Texas Capital Bancshares Inc. CEO James Lee said the funding is "institutional validation" of demand for a rival to NYSE and Nasdaq. Early backers include BlackRock Inc. and Citadel Securities, followed by a JPMorgan Chase & Co.-led round.