Fabric RQ, a startup founded by veteran risk manager Richard Bookstaber to provide institutional quality risk management software to individual investors through their financial advisors, has closed a seed round led by Pandeavor Ventures, Vikram S Pandit’s family office, and John P Arnhold, managing member of Arnhold LLC.
Fabric RQ, a startup founded by veteran risk manager Richard Bookstaber to provide institutional quality risk management software to individual investors through their financial advisors, has closed a seed round led by Pandeavor Ventures, Vikram S Pandit’s family office, and John P Arnhold, managing member of Arnhold LLC.
The funding will support the commercial deployment of Fabric’s risk management software which has been under development for more than a year. Terms of the investment have not been disclosed.
“I have known Vikram Pandit and John Arnhold for many years and am delighted that Pandeavor Ventures and Arnhold LLC are leading this seed investment round,” says Bookstaber. “We all firmly believe that risk management is the most critical discipline on Wall Street and are committed to ensuring those capabilities are available to every investor. This investment will help fulfil our mission to level the playing field for individual investors by providing their advisors with the powerful tools to which banks and hedge funds have long had access.”
As part of the investment, Rohul Pandit will join Fabric’s board of directors.
