TPG Backs Continuation Fund for Earnix in $290 Million Deal
TPG, a private equity firm, has invested in a continuation fund for Earnix, an insurance technology company. The deal, valued at $290 million, was made in partnership with Jerusalem Venture Partners (JVP), an Israeli venture capital firm. The continuation fund allows TPG to acquire a majority stake in Earnix from JVP, which had previously invested in the company. This type of transaction enables the existing investors to monetize their investment while allowing Earnix to continue its growth and development. The investment by TPG is expected to support Earnix's expansion and further development of its insurance pricing and customer analytics platform. The deal highlights the growing interest in the insurtech sector and the potential for private equity firms to capitalize on successful technology companies.
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