JVP Closes $290 Million Continuation Vehicle in Partnership with TPG
Simpson Thacher advised TPG GP Solutions, TPG’s dedicated U.S. and European GP-led secondaries strategy, as Lead Investor in connection with its investment in a $290 million single-asset continuation vehicle (“CV”) sponsored by JVP, a leading global venture capital firm based in Israel. The CV purchased its underlying asset, Earnix, from existing JVP funds and delivered substantial liquidity to early JVP investors. Earnix is a category leader in Dynamic AI that is redefining the insurance industry and the transaction supports its continued global expansion.
The Simpson Thacher team included Drew Harmon, Lauren King and Lenny Licht (Fund Transactions); Marcy Geller, Brian Mendick, Adam Hersch and Michael Leitner (Tax); and Tom Howland (Banking and Credit).