Penserra

Name

Penserra

Legal name

Penserra Financial Ventures LLC

Website

https://penserra.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Institutional Brokerage & Investment Banking

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Fixed Income Brokerage (Bonds) (FSAEACAJ)

akta.pro secondary industries

Investment Management Advisory (RIA) (FSAEAAAB), Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

Keywords

• Institutional brokerage services
• Equity trading execution
• Fixed income trading
• Investment banking advisory
• ETF sub-advisory services

Headquarters

HQ city

Orinda

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Global Equity Trading: Provides institutional clients with equity trading execution services across global markets.
2. Fixed Income Trading: Offers fixed income trading services including government and corporate bonds, and is an approved dealer of Fannie Mae, Freddie Mac, and Federal Home Loan Bank.
3. Investment Banking: Provides investment banking services including advisory, capital markets, and underwriting services.
4. ETF Sub-Advising: Provides sub-advisory services for exchange-traded funds to asset management firms.
5. Active Investment Management: Penserra Global Investors provides active global equity management strategies to institutional clients.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Penserra operates as an institutional financial services firm delivering six core service lines to institutional clients: Global Equity Trading, Fixed Income Trading, Equity Exchange market access, Investment Banking (advisory, capital markets, and underwriting), ETF Sub-Advising, and Active Investment Management through its Penserra Global Investors subsidiary. The firm holds FINRA/SIPC broker-dealer registration and is an approved dealer of Fannie Mae, Freddie Mac, and the Federal Home Loan Bank.

Product overview

Penserra is an institutional financial services firm offering a comprehensive suite of financial services. The core portfolio includes Global Equity Trading, Fixed Income Trading, Equity Exchange, Investment Banking, ETF Sub-Advising, and Active Investment Management (via Penserra Global Investors LLC). Founded in 2007, the firm operates as a unified institutional platform rather than a modular architecture, with services designed to serve institutional investors, asset managers, and corporate clients across equity and fixed income markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Global Equity Trading Institutional-grade equity trading execution across global markets for institutional investors, including asset managers, insurance companies, and corporate issuers, providing liquidity and execution services.
• Fixed Income Trading Trading services for fixed income securities including government and corporate bonds and other debt instruments for institutional clients; Penserra is an approved dealer of Fannie Mae, Freddie Mac, and the Federal Home Loan Bank.
• Equity Exchange An exchange platform service providing equity trading operations and market access for institutional clients.
• Investment Banking Capital markets advisory, underwriting, and advisory services for corporate and institutional clients, including diverse underwriting syndicate participation (e.g., co-manager on State Street's $750 million senior notes and Allstate's $1.2 billion bond transaction).
• ETF Sub-Advising Sub-advisory portfolio management and investment strategy services for Exchange-Traded Fund sponsors, providing portfolio construction and ongoing management support for ETF products.
• Active Investment Management Actively managed global equity investment strategies delivered through Penserra Global Investors LLC, led by experienced portfolio managers managing institutional capital in global equities.

Quantifiable outcome

• As of August 2022, approximately 35% of employees are classified as minorities, substantially higher than financial industry average
• +1 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• Northern Trust Asset ManagementcoreChannel Partner/ Reseller/ Distributor · 1 December 2022Penserra was selected by Northern Trust Asset Management as one of sixteen minority-owned broker dealers for its Minority Broker Program, an increase from eleven in 2019. Selected from 28 broker-dealers that responded to a request for information. This is the seventh time Northern Trust has gone through this process since the program's inception in 2007.
• State StreetcoreStrategic or Co-development Partner · 5 August 2022Penserra, as a certified Minority-Business Enterprise (MBE), participated as a co-manager for State Street's $750 million of Senior Notes, representing a significant diversity underwriting relationship in the institutional fixed income market.
• BlackRockcoreStrategic or Co-development Partner · 14 January 2021Penserra announced the launch of a partnership with BlackRock to provide dedicated cash management share classes, expanding its institutional investment management offerings.
• NICSA Diversity Project North AmericaminorStrategic or Co-development Partner · 20 January 2020Penserra CEO George Madrigal is a Founding Member of NICSA's Diversity Project North America, a group of senior executives focused on increasing diversity within the asset management industry. Connie Kreutzer, Head of Institutional Sales, is a member of the organization's Executive Steering Committee.
• The Hispanic PromiseminorStrategic or Co-development Partner · 17 October 2019Penserra committed to The Hispanic Promise, the first-of-its-kind national pledge to hire, promote, retain and celebrate Hispanics in the workplace. Signed at the Hispanic Leadership Summit: San Francisco.
• BofA SecuritiescoreStrategic or Co-development PartnerBofA Securities serves as Penserra's clearing firm, backs up important firm records in a geographically separate area, and provides business continuity support. Penserra's clearing firm is identified as BofA Securities in their official disclosures.
• RBC Clearing and CustodycoreStrategic or Co-development PartnerRBC Clearing and Custody serves as an alternative clearing firm for Penserra. In case of significant business disruption where Penserra is inaccessible, customers are directed to RBC for instructions on accessing funds and securities.
• We Are All Human FoundationminorStrategic or Co-development PartnerPenserra supports the We Are All Human Foundation, a non-profit devoted to promoting diversity, inclusion and equality. The organization organized the Hispanic Leadership Summit where Penserra signed The Hispanic Promise.
• The Diversity Project North AmericaminorStrategic or Co-development PartnerPenserra is actively involved with The Diversity Project North America, an organization committed to expanding diversity and inclusion throughout the asset management industry.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Loop Capital Markets: Minority-owned institutional broker-dealer with fixed income, equities, and investment banking serving corporate, governmental, and institutional clients; comparable in MBE positioning and institutional coverage.
• CastleOak Securities: Black-owned broker-dealer providing fixed income sales and trading, investment banking, and equity services to institutional clients; comparable in MBE positioning and product set.
• R. Seelaus & Co. Women-owned broker-dealer providing fixed income trading, capital markets, and advisory services; comparable as a diversity-led institutional broker-dealer competing for similar co-manager mandates.
• M.R. Beal & Company: Minority-owned broker-dealer with municipal and institutional fixed income, investment banking, and public finance offerings; comparable diverse-broker peer in capital markets services.
• Siebert Williams Shank & Co. Minority and women-owned broker-dealer focused on capital markets, public finance, and institutional fixed income; directly comparable as a minority-led dealer competing for co-manager slots on underwriting syndicates.
• Roberts & Ryan Investments: Service-disabled veteran-owned broker-dealer providing institutional fixed income sales/trading and underwriting; comparable in mission-driven diversity positioning competing for similar institutional mandates.
• Blaylock Van, LLC: Black-owned broker-dealer focused on institutional fixed income sales, trading, and underwriting; comparable in minority positioning and institutional fixed income focus.
• Samuel A. Ramirez & Co. Hispanic-owned, MBE-certified institutional broker-dealer offering fixed income trading, equity trading, and underwriting; the most direct diverse-broker peer comparable to Penserra in identity, regulatory positioning, and service mix.

Broad incumbents

• B. Riley Financial: Diversified mid-tier financial services firm with broker-dealer, investment banking, and trading operations; a broader incumbent that targets similar institutional clients with overlapping services.
• Stifel Financial Corp. Full-service institutional broker-dealer with fixed income, equities, investment banking, and asset management; a larger incumbent providing similar institutional services across the U.S.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/penserrafv

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Penserra