Minority Venture Partners Limited (MVP) is a new investment vehicle that provides funding for UK insurance brokers who wish to release capital, whilst continuing to control and grow their business. It gives brokers a wide range of opportunities, including buying out shareholders who wish to retire, funding local acquisitions or for personal use, whatever they choose.
James McCaffrey, Chief Executive of MVP said: “Our model is unique in the insurance industry. MVP acts as an investment partner, supporting the business whilst allowing the management team to continue to run, control and grow their business. It is an ideal alternative for those brokers who do not wish to sell their entire business.”
Peter Cullum, founder and Non- executive Deputy Chairman of Towergate, is the majority shareholder of Minority Venture Partners, which is a new, separate venture.
Green Insurance Group, based in East Sussex, is one of the first brokers to join MVP. Clive Galbraith, Chairman of Green Insurance said: “MVP provided an ideal solution for us as we look to grow our business and continue our successful strategy of local acquisitions. I am excited that Peter Cullum will be joining our board to give Green Insurance the benefit of his unique industry insight and help us achieve our growth plans.”
James McCaffrey said: “We are delighted that Green Insurance has joined MVP. Our new funding model has attracted a lot of interest from brokers who have built a successful business and are now looking to release equity for business or personal use”
A second broker is expected to join MVP by the end of March.