Util closes $6 million seed investment round led by Eldridge

en

Raise will support the data provider’s expansion in the U.S. meeting wider demand for ESG coverage.

<< Back
03/11/2022 |
  • download

Global sustainability data provider Util today announced the closing of a $6 million investment round led by Eldridge. Additional participants in the round, designed to expand global footprint and accelerate hiring needs, include the Luxembourg Stock Exchange (LuxSE), the Chicago Board Options Exchange (CBOE Global Markets), and founding investor Oxford Science Enterprises (OSE).

“We’re delighted CBOE and LuxSE share our vision and look forward to working together to integrate sustainability intelligence into the global financial system,” said Patrick Wood Uribe, Util’s CEO.

“Util’s overarching objective is fully aligned with our exchange’s mission to contribute to the growth of sustainable finance and the United Nations Sustainable Development Goals. As we accelerate the climate transition, it is increasingly important to be able to map the social and environmental impact of companies. A growing number of investors are now seeking solid sources of sustainability data to evaluate the positive or negative SDG contributions of different companies as this allows them to make informed investment decisions that reflect their sustainability objectives,” said Julie Becker, CEO at LuxSE.

“CBOE is pleased to support the further expansion of Util’s offering and global footprint, which align closely with CBOE’s own areas of strategic focus. We believe Util’s product suite is unique in the market, providing scientifically-based, objective and actionable data sets to market participants positioning around the United Nations Sustainable Development Goals.  ESG broadly encompasses the most fundamental issues of our day.  In our view, investors and traders will increasingly demand navigational tools such as Util’s to provide direction on their ESG strategies,” said John Deters, Chief Strategy Officer at CBOE.

Customers, including PGIM Quantitative Solutions, Nuveen (a TIAA company), Danske Bank Asset Management, Degroof Petercam Asset Management (DPAM), and a.s.r., work with Util to research companies, report on portfolios, and create differentiated financial products benchmarked against material sustainability issues.

The announcement comes as the team accelerates hiring in key senior roles. Most recently, Util appointed Riaz Shaikh to lead product development. Shaikh was previously Global Head of Data Analytics Strategy, Investment Banking, at Credit Suisse, where he spearheaded strategy and product in relation to alternative, ESG and sustainability data. Earlier this year, Mike Goynes joined Util as CTO, prior to which he was Chief Data Officer at supply-chain AI unicorn Interos.

Util’s innovative approach and insights have been recognised by a number of prestigious awards. Most recently, the company won 'Best Sustainable Investment Research & Ratings Provider' at Investment Week’s Sustainable Investment Awards 2022, where it was also highly commended for 'Best Sustainable Thought Leadership Paper’. Util also won ESG Research of the Year, North America at Environmental Finance’s Sustainable Investment Awards 2022.

Back to top  | << Back

Communiqués liés

Julie Becker CEO LuxSE 01 web
15/12/2022

LuxSE welcomes CICC UK as new trading and listing member

The Luxembourg Stock Exchange (LuxSE) is pleased to announce the admission of Ch...

Bourse de Luxembourg
MoU signing LuxSE VNX Backes Pham
12/12/2022

LuxSE and Vietnam Exchange join forces to accelerate sustain...

In the context of the official visit to Luxembourg by Prime Minister of Vietnam ...

Bourse de Luxembourg
Julie Becker CEO LuxSE 01 web
01/12/2022

Symbiotics Investments brings world’s first INR-denominate...

2022 was a key year for gender finance, which saw an increase in gender-focused ...

Bourse de Luxembourg
download
03/11/2022

Util closes $6 million seed investment round led by Eldridge

Raise will support the data provider’s expansion in the U.S. meeting wider dem...

Bourse de Luxembourg
2015 06 09 Bourse-PG-1
25/10/2022

LuxSE partners with BFF Bank to introduce new post-trade mod...

The Luxembourg Stock Exchange (LuxSE) today announced the launch of its new post...

Bourse de Luxembourg
Julie Becker CEO LuxSE 01 web
19/10/2022

Agreement announced to carry out the "ESG Analysis Certifica...

Initiative is led by GOVERNART, Santiago Stock Exchange and Luxembourg Stock Exc...

Bourse de Luxembourg

Il n'y a aucun résultat pour votre recherche

We use cookies to ensure the best experience on our website. By accepting you agree the use of cookies. OK Learn more