Afsaneh Naimollah

The Marlin & Associates team is comprised of a group of seasoned professionals who have an unrelenting commitment to maximize value for our clients. Collectively, our team has advised on financial technology, data and analytics transactions in 27 countries around the world. Several M&A partners have held global C-level and senior operating roles in relevant industry sectors. This deep operating experience combined with extensive transaction expertise enables Marlin & Associates to provide an unparalleled level of strategic and financial advice to our clients as well as execution capability in nearly every conceivable situation. 

On June 14, 2021 we agreed to combine with the technology investment banking team at D.A. Davidson. Our combined technology investment banking group will have more than 60 professionals across North America plus a strategic transatlantic partnership with MCF Corporate Finance (60 investment banking professionals in London, Stockholm, Hamburg, and Helsinki). 

  • Our Group will cover eight tech sectors: Application Software, Infrastructure Software, Vertical Software, Communications Software/Hardware, Internet and Digital Media, Technology-Enabled Services, Data and Analytics, and Financial Technology. Within Financial Technology, we will continue covering clients across WealthTech, Payments Tech, InsurTech, BankTech, Real Estate Tech, LegalTech, GRC, Business Intelligence, Market Intelligence, Capital Markets Technology, and Digital Tech including Workflow Automation; 
  • We’ll work closely with D.A. Davidson’s 12 technology research professionals covering more than 130 technology stocks, and a dedicated equity sales and trading team


We expect the transaction to close in Q3 2021. 

 You can read more about the transaction HERE.


Afsaneh Naimollah is the founder and Managing Director of XEN Partners, a Silicon-Valley based strategy and financial advisory firm for next generation healthcare companies. She is an Advisor to our firm and works closely with Marlin’s partners on healthcare technology transactions.

For six years, until January 2016, Afsaneh was the head of the healthcare technology practice at Marlin & Associates where she led a number of notable M&A transactions. Afsaneh actively covers the digital health space, payor/provider and consumer-centric technologies.

Afsaneh spent 12 years as Barclays Capital here she rose to become the Global Head of the Technology Group. At Barclays, her group was responsible for the coverage of more than 120 tech and healthcare companies around the globe. While at the firm, Afsaneh directly worked on more than 100 M&A, IPO and private placement transactions.

Afsaneh holds a Masters in International Finance from the University of Wisconsin, Madison and has completed post graduate studies at Northwestern University. In addition to public speaking at industry conferences, Afsaneh is the senior editor of Marlin's HITs Greatest Hits newsletter which is widely read by Healthcare IT industry executives.

Afsaneh was a board member of ON2 Technologies which was the first publicly-held company acquired by Google. She is a hot yoga enthusiast and daily practitioner. She credits this vigorous and demanding discipline with her holistic view of business and the world.

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