Belfast-based AquaQ backed by London private equity firm Sovereign
BELFAST-based big data firm AquaQ Analytics has taken a significant injection of private equity cash from London firm Sovereign Capital Partners as it looks to continue its fast growth.
The company, which was set up in the city a decade ago, now employs around 180 people across London, New York, Tokyo, Hong Kong, Singapore, Sydney and Vancouver.
AquaQ primarily uses data for clients across the financial technology sector.
Last July it announced a £8.3 million government-backed expansion to create another 123 jobs.
Now AquaQ has announced significant investment to expand its data analytics and data science services business.
The private equity backing has come from Sovereign Capital Partners.
The deal was advised by financial services firm Alantra and legal and business services provider DWF.
Jonathan Thorne, a director at Sovereign said: “We are delighted to have the opportunity to back the AquaQ team at what is a really exciting time in this market and we are grateful to the DWF team for their legal expertise in completing this transformative investment.
“We look forward to working with the team to support the next phase of AquaQ’s exciting growth and further developing their expertise and range of services."
James Morrison at DWF in Belfast said: "We have worked with Sovereign for many years, advising on a multitude of exciting investments and transactions along the way.
“We are delighted to play a role in this latest technology-sector investment into AquaQ Analytics and we wish the management team every success with their future plans for growth."