Pandeavor Ventures is the New York City-based family office of the former chief executive at Citigroup.

Pandeavor Ventures, the family office of former Citigroup chief executive Vikram Pandit has, along with other investors, put money into a risk management software start-up Fabric RQ.

Fabric RQ has been founded by risk management industry figure Richard Bookstaber. It has closed a seed fundraising round from New York-based Pandeavor Ventures, as Pandit’s office is called, as well as John P Arnhold, managing member of Arnhold LLC, the New York investment firm. 

The funding will support the commercial deployment of Fabric’s risk management software which has been under development for more than a year. The terms of the investment were not disclosed, according to a statement sent to Family Wealth Report.

“I have known Vikram Pandit and John Arnhold for many years and am delighted that Pandeavor Ventures and Arnhold LLC are leading this seed investment round,” Bookstaber said. “We all firmly believe that risk management is the most critical discipline on Wall Street and are committed to ensuring those capabilities are available to every investor. This investment will help fulfill our mission to level the playing field for individual investors by providing their advisors with the powerful tools to which banks and hedge funds have long had access.”

On its own website, Pandeavor Ventures says it is "focused on investments primarily in the fintech space."

Among recent family office investment coverage, see this story about a single-family office buying into the hotels sector.