A profitable California investment banking boutique has filed for a $100m (€76m) initial public offering to join rivals such as Keefe, Bruyette & Woods, Evercore, Cowen and Thomas Weisel, all of which listed last year.

JMP Securities, a seven-year-old San Francisco technology-focused investment bank, said it would look to raise at least $100m in an offering it will underwrite along with Merrill Lynch and Keefe Bruyette & Woods.