Date of investment / Realisation:

2015 / 2020


Data & Analytics

Buy & Build:

1 completed acquisition

“With a pedigree in taking entrepreneurial businesses to the next stage of growth, we had a strong partner in Horizon Capital. They helped us meet our ambitious goals.”

Sebastien RoussotteCEO, Style Analytics


Style Analytics enables over 280 asset managers, asset owners and consultants build objective and comprehensive factor analysis on markets, peers and portfolios. By creating transparency through factor exposures – the systematic drivers of portfolio risk and return – Style Analytics helps investment professionals (typically part of the front-office), validate and make strong investment decisions.  Horizon acquired Style in 2015 following extensive mapping of the fintech market.

Style is the global leader in independent factor analytics.  While delivering recognised value-add for its customers through quality delivered via a unique and easy-to-use ‘skyline’, it was a heavily product-led and technically-oriented business.  Horizon identified an opportunity to professionalise and commercialise activities.

The Journey

Horizon Capital helped strengthen the management team, recruiting an NX Chairman, bringing in a new CEO to replace the founder alongside a strong FD, sales director and heads of marketing and product management.  The new team successfully repositioned the business and helped drive above-market rates of organic growth and profitability.  

Following  Horizon Capital’s investment, headcount more than doubled with office locations expanding to London, Boston, Paris, Tokyo and Sofia.  Style Analytic’s product set grew to include new tools covering ESG, interactive peer comparison, a what-if simulator and managed services for asset owners.

At the time of exit, Style Analytics roster of blue chip financial service customers included 80% of the largest global asset managers with net revenue retention of 100% reflecting high levels of customer satisfaction.


During the investment period, Style Analytics revenue growth accelerated into double-digits, with profits growing faster still.  The business was sold to US-based strategic purchaser Investment Metrics in late 2020.

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