Investments
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Sources said Piper Sandler will run the auction for the CIVC-backed firm.
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It is understood that the company aims to launch in Q3 or Q4 of this year.
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Sources said the process will target buyout firms and will not be open to trade bidders.
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Hiscox, Intact Ventures, Weatherford and RPM Ventures participated in the fundraise.
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This publication revealed that the company was raising capital earlier this year.
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SEC filings show that Travelers’ equity ownership was valued at over $107mn in Q4.
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The company would ideally like to target a minority investment.
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Enstar acquired 637,640 shares of James River in Q4 last year valued at nearly $6mn.
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The company provides a platform for brokers to value, buy and sell books of business.
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The company's reinsurance panel has expanded to over a dozen risk capital providers.
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Intact Ventures, Era Ventures, Greenlight Re and Spark Capital also participated.
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Last year, this publication revealed that TPA SCM and Rimkus launched sales processes.