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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]
| Industry | Financial services |
|---|---|
| Headquarters | , United States |
| Services | Building advanced technology companies |
| Website | spencertraskco |
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]
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