Spectrum invests $51m in Quantile

The US-based firm is currently investing from its ninth-generation fund, which closed on $1.5bn in May 2020.

The fund will acquire a minority stake in the business. This is Quantile's first round of institutional funding.

Spectrum's managing director, Mike Farrell, will join the company's board of directors.

Following the transaction, Quantile plans to develop its service and expand into new markets.

Company
Quantile was founded in 2015 and is an optimisation engine providing compression and risk rebalancing services to banks, hedge funds and other financial institutions. It is based in London and reported revenue of £8.6m in 2019.

People
Spectrum Equity – Mike Farrell (managing director); Parag Khandelwal (principal).

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