Solve Advisors (“Solve, or the “Company”), the global industry leader of pre-trade price transparency data in fixed income markets, announced today that Charlesbank Technology Opportunities Fund, a fund managed by Charlesbank Capital Partners (“Charlesbank”), has invested over $80 million in the Company.
The investment will allow Solve Advisors to accelerate the expansion of its innovative data aggregation and analytics platform for fixed income market participants as well as expand its go-to-market and operations efforts globally. This investment follows a successful funding round from Credit Suisse Asset Management’s NEXT Investors in August 2019. NEXT Investors remains an investor of Solve Advisors following Charlesbank’s investment.
Solve Advisors’ mission is to provide clients the full picture of the fixed income markets by addressing its data fragmentation and lack of transparency. Founded in 2011, the Company has developed the largest datasets of real-time bids, offers and market color globally across all Securitized Products, Corporate Bonds, Syndicated Bank Loans, Credit Default Swaps and Municipal Bonds. The Company’s flagship product, SolveQuotes, utilizes proprietary Natural Language Processing and Machine Learning technology to aggregate millions of daily data points by parsing clients’ unstructured messages. This data, along with Solve’s observable market data, is accessible through the platform or via data feeds. Combined with proprietary analytics, Solve leverages its significant coverage and depth of contributed quotes across multiple asset classes to create real-time market consensus pricing for even more clarity. SolveQuotes’ workflows facilitate BWIC (bids wanted in competition) monitoring, identifying trading opportunities, and visualizing pricing and liquidity trends.
“I am incredibly proud of what the Solve team has accomplished to help our clients execute with confidence in otherwise opaque markets. We are thrilled to partner with Charlesbank as we continue to innovate our products, develop new client use-cases, and expand geographically,” said Solve Advisors CEO Eugene Grinberg. “We see significant opportunity to continue adding value to our clients in fixed income markets, and we want to position Solve as the market leader in fixed income pricing data.”
“We look forward to working with Solve Advisors and its outstanding leadership team to accelerate growth of their foundational solution, SolveQuotes, and to develop new groundbreaking datasets and solutions,” said Darren Battistoni, Managing Director at Charlesbank. “Expanding on the world’s largest dataset of observable fixed income pricing will allow us to serve the market in ever more meaningful ways.”
Oliver Wyman acted as strategic advisor to Charlesbank.
About Solve Advisors Inc.
With locations in the US, UK, India, Caribbean, and APAC, Solve Advisors is the leading provider of market pricing in fixed income markets. Solve boasts unmatched coverage globally in Structured Products, Corporate Bonds, Syndicated Bank Loans, CDS, and Municipal Bonds. The SolveQuotes platform aggregates real-time bids, offers, BWIC price talk and covers, and other market data, helping to provide unparalleled price transparency and liquidity monitoring. The powerful workflow tools eliminate the hassle of the BWIC process, consolidate dealer inventories and two-way markets, and streamline month-end for the back office. The Solve team, headed by Co-Founders Eugene Grinberg and Gerard Nealon, has extensive expertise and passion for financial markets and developing innovative technology. Further information about Solve Advisors can be found at solveadvisors.com.
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with more than $15 billion of capital raised since inception. Charlesbank focuses on management-led buyouts and growth capital financings, and also engages in opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.