Summit Partners invests €50m in Solactive

The deal saw the GP acquire a minority stake in the business.

Summit principal Johannes Grefe is to join the company’s board following the investment, the GP said in a statement.

Solactive intends to use the growth capital to support its global growth and to expand its product offering and technology platform, according to the same statement.

Summit is currently deploying equity via vehicles including Summit Partners Europe Growth Equity Fund III, which held a final close in June 2020 on €1.1bn and deploys equity tickets of €20-70m. The fund focuses on Europe-based companies operating in the technology, consumer, finance and healthcare sectors.

Company
Solactive creates, develops, calculates and distributes indices and related services for index-linked investments across equity, fixed income and multi-asset class strategies, including exchange-traded funds (ETFs). Its client base comprises investment banks, ETF providers and hedge funds, as well as asset owners and managers.

The company was founded in 2007 and is headquartered in Frankfurt am Main, with further offices in Berlin, Dresden, Hong Kong and Toronto. Solactive employs 250 people. According to its latest accounts, Solactive reported 2018 turnover of €24.2m, an increase of 24.7% on the previous year.

People
Summit Partners – Johannes Grefe (principal).
Solactive – Steffen Scheuble (founder).

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• Topics
• Expansion
• DACH
• Financials
• Germany
• Summit Partners