March 24, 2008 14:19 ET
FinAnalytica Secures $5 Million Investment for Cognity Expansion
NEW YORK, NY and SOFIA, BULGARIA--(Marketwire - March 24, 2008) - FinAnalytica Inc.,
provider of post-modern risk management and portfolio construction
analytics, today announced that New Europe Venture Equity (NEVEQ) has
invested US$5.0 million in the firm. The announcement follows a period of
accelerated growth during which the company has focused its Cognity
platform on returns-based portfolio analysis for funds of hedge funds and
other multi-manager investment firms. The investment will enable
FinAnalytica to substantially expand sales and marketing internationally,
as well as support new product development.
FinAnalytica's CognityFoF provides risk managers and portfolio managers
deep and accurate insights into sources and characteristics of the risk in
their portfolios. It also supports downside risk portfolio optimization,
providing managers guidance in the allocation process.
According to Pavel Ezekiev, Managing Partner at NEVEQ, "We are impressed
with FinAnalytica's evolution to date, along with the strength of its
Cognity portfolio risk and allocation platform. Cognity's unique use of
down-side risk management based on accurate models for asset returns has
the potential to revolutionize how portfolio managers allocate their
investments and measure their risks. With its Sofia-based research and
development team, and the enhanced ability to accelerate business
development across key accounts in the US, London and Zurich, FinAnalytica
is the perfect addition to our portfolio."
"Demand for the next generation of portfolio allocation and risk analytics
is on the rise. As a result, we are seeing significant growth opportunities
in the broad fund-of-funds market, where use of traditional approaches to
portfolio construction and risk management are inadequate," said R. Douglas
Martin, Founder and CEO of FinAnalytica. "The NEVEQ investment will help us
strengthen our position and expand our reach geographically as well as into
new market segments."
Headquartered in Sofia, Bulgaria, NEVEQ is a venture capital firm launched
in May 2006 to invest in exceptional entrepreneurs and rapidly growing and
profitable technology companies operating from Southeast Europe. NEVEQ is
the first and currently only venture capital firm focused on software and
IT services investment opportunities in this talent-rich region with highly
competitive cost environment.
Having founded and managed some of the region's most successful companies
and investment funds, the NEVEQ team offers a blend of entrepreneurship,
global operational and marketing expertise, and fund management experience.
Further information on NEVEQ can be found at www.neveq.com.
FinAnalytica, Inc. is the leading provider of post-modern portfolio
construction and risk measurement software for quantitative analysts and
portfolio managers. FinAnalytica's Cognity software suite incorporates the
latest and most transparent advances in analytics, including comprehensive
treatment of real world fat-tailed and skewed asset returns. FinAnalytica
clients include leading fund-of-funds, hedge funds and asset management
firms. Further information on FinAnalytica may be found at
Cognity is a registered trademark of FinAnalytica, Inc.