Spencer Trask & Co. is an American company that was founded in 1881 by Spencer Trask and George Foster Peabody as an investment firm. The company is headquartered in Greenwich, Connecticut, and focuses on funding early-stage ventures in technology, healthcare, and science.

History

Spencer Trask & Co. was established in 1881 by Spencer Trask, evolving from his earlier ventures, including Trask & Stone, a brokerage house founded in 1868. In the late 19th and early 20th centuries, the firm played a key role in financing technological advancements. Notably, it supported Thomas Edison in the development of electric power systems. Trask was president of the New York Edison Company, the world's first electric power company. The company became known as Consolidated Edison (ConEd). Spencer Trask & Co. also provided financing for Guglielmo Marconi, whose work in radio technology laid the groundwork for today's wireless communications. 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. This became a core component of modern fiber-optic communications and telecommunications infrastructure. The firm provided the first funding to Myriad Genetics, a genomics diagnostics company known for sequencing the breast cancer gene, BRCA1. This work contributed to advances in genomic medicine. In addition, Spencer Trask & Co. invested in Health Dialog to commercialize the work of partner Jack Wennberg, who worked in evidence-based medicine and informed patient-based decision-making. Health Dialog's support and research provided the analytical foundation for the Affordable Care Act (ACA).