Solactive, a technology-enabled provider of indices and index solutions to the global financial services industry, has landed $60.4 million minority investment from global growth equity firm Summit Partners.
The investment will help support the company’s growth, as it expands its product offering and presence worldwide and further builds upon its proprietary technology platform, infrastructure and global team.
“We are proud to be one of the fastest growing index providers in the world and widely regarded as a disruptor in the global index market,” said Steffen Scheuble, Founder and CEO of Solactive. “We are excited to join forces with Summit Partners and work together to further accelerate our journey. Summit brings significant experience in the technology and financial services sectors, as well as deep resources in supporting the expansion of our businesses across products, regions and client segments.”
Mr. Scheuble founded Solactive in 2007 to offer index solutions as the industry has seen a reallocation of assets under management from active to passive investment strategies amounting to $3.8 trillion over the past decade.
“The indexing market continues to be highly dynamic with the ongoing active-to-passive shift and the diversification of passive investment strategies, which we believe is driving significant growth for index-linked investment products,” said Johannes Grefe, a Principal with Summit Partners who will be joining the Solactive Board of Directors. “Steffen and the Solactive team have recognized and responded to this trend with a highly automated and customer-centric approach based on a robust technology platform. With a strong combination of vision, product and client reach, we believe Solactive is well positioned to continue its innovative disruption of the indexing market.”
The company serves its global customer base from its headquarters in Frankfurt am Main, Germany, and offices in Toronto, Hong Kong, Berlin and Dresden. The company employs more than 250 employees, representing 38 nationalities working together on three different continents. It plans to continue expanding its team with new hires.
-AK
