DENVER--(BUSINESS WIRE)--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, today announced it 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 were not 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,” said Mr. 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 fulfill 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, Rahul Pandit will join Fabric’s board of directors..
Fabric is inviting advisors who want to try out its application, which goes live this fall, to visit its website, www.fabricrisk.com.
About Fabric RQ
Founded by Wall Street veteran Rick Bookstaber, Fabric RQ provides institutional-quality risk management technology to individual investors through their financial advisors. Fabric employs agent-based risk models powered by MSCI's industry-leading factor framework to map out forward-looking risk. By recognizing the narrative nature of risk and distilling complexity into understandable investment insight, Fabric facilitates the deep, differentiated risk conversations that build trust and confidence for the advisor’s clients and prospects. www.fabricrisk.com
