Spencer Trask & Co.
| Industry | Financial services |
|---|---|
| Headquarters | , United States |
| Services | Building advanced technology companies |
| Website | spencertraskco |
Spencer Trask & Co. is an American company that was founded in 1881 by Spencer Trask and George Foster Peabody as an investment firm.[1][2] The company is headquartered in Greenwich, Connecticut, and focuses on funding early-stage ventures in technology, healthcare, and science.[3]
History
[edit]Spencer Trask & Co. was established in 1881 by Spencer Trask, evolving from his earlier ventures, including Trask & Stone, a brokerage house founded in 1868.[1][4]
In the late 19th and early 20th centuries, the firm played a key role in financing technological advancements.[5] Notably, it supported Thomas Edison in the development of electric power systems.[6][7] Trask was president of the New York Edison Company, the world's first electric power company. The company became known as Consolidated Edison (ConEd).[8]
Spencer Trask & Co. also provided financing for Guglielmo Marconi, whose work in radio technology laid the groundwork for today's wireless communications.[5]
Spencer Trask & Co. was an early investor in Ciena Corporation, which made significant advancements in fiber optic communications technology. Ciena first commercialized dense wavelength division multiplexing (WDM) technology.[9] This became a core component of modern fiber-optic communications and telecommunications infrastructure.[10]
The firm provided the first funding to Myriad Genetics, a genomics diagnostics company known for sequencing the breast cancer gene, BRCA1.[11] This work contributed to advances in genomic medicine.
In addition, Spencer Trask & Co. invested in Health Dialog[12][13] to commercialize the work of partner Jack Wennberg, who worked in evidence-based medicine and informed patient-based decision-making.[14] Health Dialog's support and research provided the analytical foundation for the Affordable Care Act (ACA).[15]
References
[edit]- ^ a b "SPENCER TRASK & CO. 50 YEARS OLD TODAY". The New York Times. 1931-05-01. Retrieved 2024-11-01.
- ^ "George Foster Peabody". New Georgia Encyclopedia. 2013-08-09. Retrieved 2024-11-01.
- ^ "Spencer Trask & Co". Bloomberg.com. Retrieved 2024-11-01.
- ^ "Yaddo records". archives.nypl.org. 2017-08-10. Retrieved 2024-11-01.
- ^ a b "Trask Marconi". Newspapers.com. 1903-11-01. Retrieved 2024-11-01.
- ^ "The Edisonian, Vol. 8, Issue 1, Sept. 2011". Thomas A. Edison Papers. 2011-09-23. Retrieved 2024-11-01.
- ^ "Global forex brokerage firm FxPro enters UAE". GulfNews. 2022-04-14. Retrieved 2024-11-01.
- ^ "The Edison Electric Illuminating Co. of New York" (PDF). Columbia University. January 21, 1891. Retrieved November 1, 2024.
- ^ "Spencer Trask & Co. Partners with UCLA Samueli School of Engineering to Support 50th Anniversary of the Internet Celebration". markets.businessinsider.com. 2019-10-29. Retrieved 2024-11-01.
- ^ Markoff, John (1997-03-03). "Fiber-Optic Technology Draws Record Stock Value". The New York Times. Retrieved 2024-11-01.
- ^ Angier, Natalie (1994-09-20). "Fierce Competition Marked Fervid Race For Cancer Gene". The New York Times. Retrieved 2024-11-01.
- ^ "Health Dialog Services Corp". Venture Capital and Tech Investment Insights. 2012-09-23. Retrieved 2024-11-01.
- ^ "Health Dialog company information, funding & investors". Space Tech. 2024-11-01. Retrieved 2024-11-01.
- ^ Gale A (2016). "John Wennberg, MD: The Influential Doctor Who Blames Physicians and Fee-For-Service Medicine for the High Cost of Health Care. Obama Care is Based on His Research". Mo Med. 113 (3): 156–8. PMC 6140041. PMID 27443035.
- ^ Fisher, Elliott S.; Wennberg, David E.; Stukel, Thrse A.; Gottlieb, Daniel J.; Lucas, F. L.; Pinder, Étoile L. (2003-02-18). "The Implications of Regional Variations in Medicare Spending. Part 1: The Content, Quality, and Accessibility of Care". Annals of Internal Medicine. 138 (4). American College of Physicians: 273. doi:10.7326/0003-4819-138-4-200302180-00006. ISSN 0003-4819.