BharCap Partners Acquires Insurvia

GREENWICH, Conn., March 14, 2024 /PRNewswire/ -- BharCap Partners, LLC ("BharCap"), a Greenwich, CT based private investment firm focused on the financial services sector, announces the closing of the acquisition of Insurvia, Inc. ("Insurvia" or the "Company"), an insurance services holding company with subsidiaries focused on providing non-standard auto insurance and related products and services to an underserved population through franchise and company-owned models. Insurvia distributes insurance policies for over 50 insurance companies, with several 10+ year relationships, which results in customers receiving the most cost-effective options for appropriate coverage.

"Danish Charanya and his team have built a leading insurance distribution platform focused on a vast and underserved auto insurance market with multiple proven levers for future growth" said BharCap Co-Founding Partner Ethan Wang. Mr. Wang continued, "This transaction fits one of BharCap's key themes of investing in insurance distribution businesses given its recurring, fee-based business model driven by state-mandated insurance laws."

"Insurvia provides an attractive value proposition to our consumers, insurance carriers and franchisees through our scale, access to hard-to-reach customers, competitive rates and specialized customer service. We are excited about the opportunity to partner with BharCap to continue growing our platform," said Danish Charanya, CEO of Insurvia.

Skadden, Arps, Slate, Meagher & Flom LLP and Kirkland & Ellis LLP acted as legal advisors to BharCap. Gemspring Capital and management were the selling shareholders. McDermott Will & Emery LLP also acted as legal advisor to the Company and selling shareholders. Robert W. Baird & Co. and William Blair served as the Company and selling shareholder's financial advisors.

About Insurvia:

Insurvia is an insurance services holding company with subsidiaries including Fiesta Insurance, a leading retail franchisor of insurance products and services with 60 franchisees operating 220+ retail stores across eight states, and La Familia Insurance, an independent insurance agency distributing insurance and related services through 70 retail storefronts in Texas.  Insurvia is headquartered in Las Vegas, NV. For more information, visit www.insurvia.com.

About BharCap Partners:

BharCap Partners, LLC is a private investment firm investing in businesses across the financial services industry including insurance distribution and insurance services; asset and wealth management; financial technology and tech-enabled business services. BharCap is a minority-owned and controlled firm and manages over $2.2 billion of capital across 11 investments since inception. For more information, visit www.bharcap.com.

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SOURCE BharCap Partners