Credit Suisse Asset Management’s NEXT Investors identifies minority growth equity investment opportunities in high-growth private businesses that interact with the financial services industry across sectors including Market Structure, Financial Technology, Enterprise Software, Data Analytics, and Specialty Finance. The firm will appoint two members to Solve Advisors’ Board of Directors, as part of the investment.
Solve Advisors, a leading provider of pre-trade price transparency in fixed income markets founded in 2011 in New York, has raised funds from Credit Suisse Asset Management’s NEXT Investors in order to drive business growth, expand the company’s sales and marketing presence, and further product development.
In order to address data fragmentation and lack of transparency in the bond markets, Solve Advisors has developed a large dataset of real-time bids, offers and market color across Securitized Products, Corporate Bonds, Syndicated Bank Loans, Credit Default Swaps, and Municipal Bonds.
Headed by Co-Founders, Eugene Grinberg and Gerard Nealon, the firm utilizes proprietary Natural Language Processing and Machine Learning technology to aggregate and visualize millions of daily data points by parsing clients’ unstructured messages. The company targets buy-side, sell-side, accounting, and valuation firms who need the resulting data for price discovery, trade idea generation, and to streamline analysis.
Eugene Grinberg, Co-Founder and CEO of Solve Advisors, said: “SolveQuotes data aggregation provides a tangible competitive advantage to our clients who are able to monetize transparency in
addition to improving operational efficiency. Recent demand for price transparency has been bolstered by the proliferation of algorithmic trading, Fixed Income ETFs, Best Execution, and TCA initiatives. We are excited to partner with Credit Suisse Asset Management’s NEXT Investors team to continue innovating our products and driving the growth of our team and client base.”
Greg Grimaldi, Co-Head and Portfolio Manager of NEXT Investors at Credit Suisse Asset Management, commented:
“As fixed income markets become more electronic over time, Solve Advisors offers a trailblazing solution to help bring greater price transparency to the market, benefiting market participants. We are pleased to bring our deep market structure expertise to help support the company as it continues to grow.”
NEXT Investors’ portfolio of investments include AXtrading, BIDS trading, Ezops, LevelATS, and Simon Markets. The firm has recently exited FastMatch, which was acquired by Euronext, and BATS, which was bought by Cboe.