Summit Partners has made a €50 million ($60.5 million) minority investment in Solactive, which provides tailor-made index solutions for ETFs and other index-linked investments across equity, fixed income and multi-asset class strategies. CEO Steffen Scheuble founded the business in 2007.
FRANKFURT AM MAIN and LONDON (December 10, 2020) – Solactive, a technology-enabled provider of indices and index solutions to the global financial services industry, today announced a €50 million minority investment from global growth equity firm Summit Partners. The investment will help support Solactive’s continued global growth, as the company expands its product offering and presence worldwide and further builds upon its proprietary technology platform, infrastructure and global team.
Solactive is challenging the status quo in the indexing industry by taking a customer-centric and technology-first, flexible approach to the creation, development, calculation and distribution of indices and related services. The company provides tailor-made index solutions for ETFs and other index-linked investments across equity, fixed income and multi-asset class strategies. Offering a high level of flexibility, speed and value, Solactive’s award-winning solutions are used by more than 400 international clients, including leading investment banks, ETF providers, hedge funds, asset owners and asset managers, with more than $200 billion of global assets linked to more than 17,000 Solactive indices.
“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 with a vision to offer index solutions in a flexible, swift and cost-efficient manner as the industry has seen a significant reallocation of assets under management from active to passive investment strategies amounting to $3.8 trillion over the past decade. Solactive has grown rapidly and profitably since its founding days, with plans for continued expansion of its products and services.
“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.”
Solactive 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. Solactive plans to continue expanding its diverse and talented team, with new hires that exhibit the spirit, drive and skill set shaping the Solactive DNA.
Solactive AG is an innovative, technology-driven provider of index and index solutions to the global financial service industry. Since its founding in 2007, Solactive has developed tailor-made and multi-asset class index solutions for ETFs and other index-linked investment products for leading global investment banks and asset managers worldwide. With headquarters in Frankfurt am Main, Germany, and offices in Toronto, Hong Kong, Berlin and Dresden, Solactive is transforming the indexing industry with its client-centric approach and relentless commitment to flexibility, efficiency and quality. Learn more at www.solactive.com.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $23 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 500 companies in healthcare, technology and other growth industries. Notable business and financial technology companies backed by Summit Partners include 360T Group, Acturis, Calypso Technology, Clearwater Analytics, FleetCor Technologies, Flow Traders, Invoice Cloud, Multifonds, Signavio and Vestmark. Summit maintains offices in North American and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or on follow us on LinkedIn.