Util closes $6 million seed investment round led by Eldridge
Raise will support the data provider’s expansion in the U.S. meeting wider demand for ESG coverage.
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.
Communiqués liés
Drees & Sommer lauréat du Vision Zero Award
Drees & Sommer, société leader dans le conseil et la réalisation de projets d...
PwC Luxembourg welcomes New Head of Human Resources, Delphin...
PwC Luxembourg is delighted to welcome its new Head of Human Resources, Delphine...
BESIX RED relève les défis de 2023 grâce à l’unité e...
Malgré les défis sans précédent auquel le marché immobilier a fait face tou...
ION-owned LIST connects FastTrade electronic trading system ...
LIST, an ION company, today announces that it has successfully completed the cer...
Nomination de Benoît Piccart en tant que Head of Corporate ...
Après plus de 30 années chez Baloise, Marc Folmer, Directeur de la Gouvernance...
Votre monde, votre langue, votre assurance : l'Intelligence ...
AXA Luxembourg lance une initiative invitant les habitants et futurs habitants d...
Il n'y a aucun résultat pour votre recherche