Novus, a New York-based company founded
by former portfolio managers, engineers and data scientists to help the world's
top institutions and investors generate higher returns, today announced that it
has received an investment from Bain Capital Ventures, the venture arm of Bain
Capital, and Index Ventures.
The investments will be used to help Novus continue its significant growth by investing in its technical infrastructure, analytical platform and talent across technology, data and finance. Financial terms of the commitments were not disclosed.
Novus was founded in 2007 by a group of investors, engineers and data scientists to build a foundation that transforms how the world invests. Today, Novus works with top hedge funds, sovereign wealth funds, endowments, pensions and other institutional investors managing almost $1 trillion to help them generate higher returns.
The company collects disparate data from both public and private sources, enriches it with market, economic and fundamental data, and provides it on a full distributed technology platform. In addition, Novus supports clients with some of the industry's top analytical minds, helping them source new ideas, monitor existing behaviors and investments, and structure portfolios that minimize risk and maximize upside.
The Novus platform gives investment managers and allocators access to unparalleled insight into portfolio holdings, exposures, attribution and risk at any complexity level - from multi-manager portfolios to single manager funds and position-level analytics.
"Novus is revolutionizing the way investors see their portfolios and how they invest. When we launched the company in 2007, we set out to find a better way to fundamentally analyze portfolios and better predict future behaviors and returns," said Basil Qunibi, Founder and CEO of Novus. "We help our clients take control of their investments and improve their returns in a day and age when old-school chatter, gut-feelings and simple rear-view mirror return analysis is consistently letting investors down."
"Our partnership with the teams at Bain Capital Ventures and Index Ventures will allow us to continue to scale and improve our platform for current and future clients as investors are looking for ways to gain an edge over their competitors."
Novus currently employs approximately 100 people globally, including some of the most talented engineers and finance professionals from some of the world's most successful companies.
"We take talent very seriously. Our people are at the core of what makes us great so we're always looking for talented people who want to make a difference," said Qunibi.
"We believe that Novus has developed the first platform of its kind to combine data, technology and analytics with real insight to drive performance for investors," said Matthew Harris of Bain Capital Ventures. "We clearly have a significant opportunity to scale the business even further as other investors recognize the power of Novus. We look forward to working with the management team over the coming years."
Jan Hammer of Index Ventures added: "The Novus management team has created a business which solves the issue of transparency in an industry with increasingly complex data sets that can be mined and analyzed systematically. Their truly disruptive platform equips investment managers and allocators with the means to aggregate and sift this data in a way which translates into better returns and greater control over their investment risks. We are extremely impressed with the vision and commitment of the founders," he said.
Novus was founded in 2007 by a group of investors, data scientists and engineers to build a foundation that helps the world's top investors generate higher returns. The firm believes investors need to innovate, adapt and increase the value they deliver. Today, some of the world's top investment managers and allocators managing approximately $1 trillion work with Novus to transform their technology, data and analysis to generate higher returns. Whether markets go up or down - or even sideways - these investors are moving forward.
Through the firm's data-driven approach, industry-leading analytics and unique team of ex-portfolio managers and investors, Novus is transforming the way the world invests.
Novus is based in New York. For more information, visit http://www.novus.com.
About Bain Capital Ventures Bain Capital Ventures is the venture arm within Bain Capital, which has approximately $70 billion of assets under management worldwide. The firm's history of investing in early stage companies dates back to 1984 with over 125 venture investments since inception. Bain Capital Ventures manages over $2 billion of assets, has over 70 active portfolio companies, and has offices in Boston, New York, and Palo Alto. The firm has helped steer many ideas to success by working in partnership with management teams, pairing talented and passionate entrepreneurs with industry experts, opening doors to customers, and collaborating on long-term strategies. For more information, please visit www.baincapitalventures.com.
Index Ventures Index Ventures is a leading global venture capital firm active in technology and biotechnology investing since 1996. From our offices in Geneva, London and San Francisco we love to discover and support the most entrepreneurial teams wherever they are looking to build market defining global businesses. For more information on our investments, from seed through to growth stage, please visit www.indexventures.com.
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