Venn by Two Sigma, a quantitative investment analytics tool from quant firm Two Sigma Investments L.P., will be sold to private equity firm Insight Venture Management LLC, better known as Insight Partners, it was announced Tuesday. Venn will merge with Solovis, another portfolio management and analytics tool and a portfolio company of Insight Partners, which acquired it from Nasdaq in September.
The merged company, which will retain the individual brands for the separate products, aims to deliver “more comprehensive portfolio intelligence across public and private markets,” according to the statement.
Venn, launched for clients in 2019, is used by asset owners, wealth managers, asset managers, outsourced CIOs and investment consultants. Its more than 240 clients manage $25 trillion in assets, according to its website.
“Two Sigma built Venn with the goal of helping sophisticated investors adopt a rigorous, scientific approach to portfolio analytics and decisionmaking,” said Venn CEO Marco Della Torre in a statement. “Venn has grown into a strong, differentiated platform with a talented team and loyal clients. We believe Insight Partners is the right owner to support Venn’s next chapter.”
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Tags: Two Sigma