JVP, a global venture capital firm with offices in New York, London, Jerusalem, and San Francisco, has announced the close of a $290 million continuation vehicle in partnership with TPG GP Solutions. This investment supports the continued growth of Earnix, a company that is reshaping the insurance industry through its AI-powered platform. The deal also provides significant liquidity to JVP’s early investors, while allowing the firm to maintain and expand its stake in Earnix.
Earnix is a leader in what it calls Dynamic AI, offering a cloud-native platform that helps insurers and banks make real-time decisions in pricing, underwriting, and product personalization. These capabilities are designed to reduce operational costs and increase revenue. The company already operates in more than 35 countries and serves over 100 major insurance providers, including AXA, Generali, Tokio Marine, Banco Santander, Toyota Financial Services, and Munich Re.
This continuation vehicle allows JVP to double down on its investment in Earnix, reinforcing its belief in the company’s long-term global potential. TPG GP Solutions led the investment, joined by several other institutional investors. Early backers of JVP’s fund were given the option to either cash out or reinvest, and many chose to stay in, including Partners Group, HighVista Strategies, Committed Advisors, and Hollyport Capital. Together with JVP’s growth fund investors like Hamilton Lane and Lexington Partners, these groups now collectively hold more than half of Earnix.
The transaction delivered a strong return to JVP’s early investors, with a reported gross multiple of 8.7 times. It also highlights the growing interest among institutional investors in mature, high-performing venture-backed companies. JVP’s approach to building companies—known as the JVP Way—has produced more than 40 major exits, including CyberArk, Qlik, and Cogent Communications.
Earnix’s CEO, Robin Gilthrope, emphasized that the partnership with JVP and TPG validates the company’s leadership in AI for insurance. He noted that the funding will help accelerate the adoption of AI-driven decision-making across the entire risk cycle in both the insurance and banking sectors.
TPG GP Solutions also expressed confidence in Earnix’s future, pointing to its combination of technical innovation and commercial success. The firm sees Earnix as a prime example of how embedded AI software can transform decision-making in large enterprises.
This deal marks one of the largest continuation vehicles ever executed by a venture capital firm. It underscores JVP’s role as a long-term builder of technology companies, especially in vertical AI sectors like insurance, fintech, cybersecurity, and SaaS. JVP continues to invest in companies that are driving change in professional industries through advanced technologies, including generative AI.
Founded by Dr. Erel Margalit, who also serves as Chairman of Earnix, JVP operates innovation hubs in Jerusalem, Tel Aviv, and New York. The firm maintains significant ownership in its portfolio companies and backs emerging leaders across a range of sectors.
KEY QUOTES:
“I am delighted to partner with TPG, one of the world’s leading investment firms, as they support us in building Earnix into the leading AI platform for the insurance and financial services industries. Once again, AI is changing vertical industries with some of the most advanced technology that we’ve seen to date. I am proud of the Earnix management in North America, Europe, Israel, and around the world as the company becomes a major international leader. As evidenced by Earnix’s predictive vertical AI, artificial intelligence broadly is delivering the ability to use and translate huge volumes of structured and unstructured data to drive transformational growth, improve customer experience, reduce costs, and ultimately, serve more people in our rapidly changing and dynamic world.”
Dr. Erel Margalit, Founder and Executive Chairman of JVP and Chairman of Earnix
“We are excited to partner with JVP and TPG GP Solutions; their support validates our leadership in Dynamic AI for the insurance sector. This builds on Earnix’s track record of successful customer deployments in 35 nations around the world and will accelerate adoption of AI-driven decisioning across the risk cycle for the banking and insurance industries.”
Earnix’s CEO Robin Gilthrope
“We are pleased to partner with JVP in supporting Earnix, a company that is redefining how global insurers and financial institutions make critical decisions through intelligent, real-time AI technology. Our investment strongly aligns with TPG’s longstanding thematic focus on deeply embedded, AI-enabled software solutions that transform how their customers operate. Earnix combines deep technical innovation with proven commercial traction at scale, and we are proud to support their continued growth.”
TPG GP Solutions Co-Managing Partner Michael Woolhouse
