Venture • Insurance

Five Elms Capital and Corsair Capital Invest In Spring Venture Group

On July 27, 2011, growth capital firm Five Elms Capital and private equity firm Corsair Capital invested in insurance company Spring Venture Group

Investment Context
  • This is Five Elms Capital’s 2nd and Corsair Capital’s 7th transaction in the Insurance sector.
  • This is Five Elms Capital’s 6th and Corsair Capital’s 4th transaction in the United States.
  • This is Five Elms Capital’s 1st and Corsair Capital’s 1st transaction in Missouri.

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Investment Summary

Date July 27, 2011
Target Spring Venture Group
Sector Insurance
Investor(s) Five Elms Capital
Corsair Capital
Deal Type Venture
Advisor(s) Evercore Group (Financial)
Husch Blackwell (Legal)

Target Company

Spring Venture Group

Kansas City, Missouri, United States
Spring Venture Group is an insurance brokerage and consulting services provider primarily in the Medicare supplement market. Spring Venture specializes in distributing Medicare Supplement, Medicare Advantage, and related products via its digital presence and dedicated team of insurance advisors. Spring Venture Group was founded in 2009 and is based in Kansas City, Missouri.
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Investors Overview 2

Investor

Five Elms Capital

Kansas City, Missouri, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2006
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Elms Capital is a private investment firm focused on investing in and partnering with founder-owned bootstrapped business services companies. The Firm will consider providing growth capital or to support shareholder liquidity needs. The Firm typically looks to invest $15 to $150 million of equity capital per transaction. Five Elms Capital was formed in 2006 and is based in Kansas City, Missouri.


Deal Context for Investor #
Overall 7 of 31
Sector: Insurance 2 of 2
Type: Venture 4 of 19
State: Missouri 1 of 1
Country: United States 6 of 25
Year: 2011 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-11 Smart Warehousing

Edgerton, Kansas, United States

Smart Warehousing provides technology-enabled warehousing and logistics firm specializing in cold storage and just-in-time retail fulfillment. Smart Warehousing was founded in 2001 and is based in Edgerton, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-09 Symphony Services

Palo Alto, California, United States

Symphony Services helps clients achieve higher innovation yields, compress time to market and improve productivity to increase the value from their R&D investments. From strategic and operational consulting guidance to complete product lifecycle capabilities, our singular focus on product development means we are engineered for your success.

Sell -
Investor

Corsair Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 9.9B USD
Size Mega
Type Sector Focused
DESCRIPTION

Corsair Capital is a private investment firm focused on investments in the financial services industry. Specific areas of interest include banks, insurance companies, credit card specialists, asset managers, private banks, mortgage lenders, financial technology firms, and finance companies. The Firm looks to invest between $50 to $100 million in companies with proven business models and 'meaningful' barriers to entry. Corsair will consider opportunities around the world, including the US, Europe, Latin America, and Asia. Prospective transactions include recapitalizations, growth capital financings, management buyouts, and special/distressed situations. Corsair Capital was originally established in 1992 and is based in New York City. Corsair has an additional office in London.


Deal Context for Investor #
Overall 12 of 29
Sector: Insurance 7 of 7
Type: Venture 1 of 2
State: Missouri 1 of 1
Country: United States 4 of 13
Year: 2011 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-01 Powszechny Zakland Ubezpieczen S.A.

Warsaw, Poland

Powszechny Zakład Ubezpieczeń Spółka Akcyjna provides various insurance products for retail and corporate customers in Poland, Lithuania, and Ukraine. Its products include group and individual life, dowry, annuity, accident, unit-linked, property, motor, casualty, agricultural, and financial insurance products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-21 Notemachine

Powys, United Kingdom

Notemachine is an Independent ATM operator with over 9,000 cash machines throughout the UK. NoteMachine uses its own cash center, engineering, and processing infrastructure to provide an end-to-end solution for independent retailers, national accounts, and financial institutions. Notemachine is based in Powys, United Kingdom.

Buy -