Israel's JVP Increases Investment in Earnix via New Vehicle with TPG

Jerusalem Venture Partners (JVP) is increasing its investment in Israeli AI-focused insurance firm Earnix through a new vehicle with TPG. The $290 million investment will be led by TPG unit TPG GP Solutions, which will hold a 30% stake in the new vehicle. JVP will retain its 54% stake in Earnix, which has adopted AI technology by more than 100 large insurance firms. The investment will partly go to Earnix, which has annual revenue above $100 million and is considered a unicorn.

Jerusalem Venture Partners (JVP) has stepped up its investment in Israeli AI-focused insurance firm Earnix via a new vehicle established with global alternative asset manager TPG. The $290 million investment, led by TPG unit TPG GP Solutions, will see the latter hold a 30% stake in the new vehicle. JVP, an early investor in Earnix, will retain its 54% stake in the insurer [1].

Earnix's AI platform has been adopted by over 100 large insurance firms, including AXA, Banco Santander, Munich Re, and Toyota Financial Services. The majority of its business is in Europe, but the U.S. has grown rapidly, accounting for 40% of its revenue. The new investment will partly be used to buy out former investors, with some funds going directly to Earnix [1].

Earnix, which already has annual revenue above $100 million and is profitable, is valued at over $1 billion, according to Erel Margalit, founder of JVP and chairman of Earnix. Margalit believes the company has more room to grow before it is ready for an exit, such as a Nasdaq share offering. He estimates that Earnix needs $300 million in revenue for an IPO, which could take another year or two [1].

References:
[1] https://www.reuters.com/world/middle-east/israels-jvp-boosts-investment-insurance-firm-earnix-via-new-vehicle-2025-09-08/
[2] https://ca.finance.yahoo.com/news/israels-jvp-boosts-investment-insurance-120427743.html