Magenta invests in Iprism founder Gary Burke's MGU
New backer to "support rapid growth" of the managing general underwriter.
Private equity firm Magenta Partners has taken a minority stake in Eaton Gate Holdings and Vigilis Holdings (together EGV).
EGV, a managing general underwriter (MGU), was founded in 2016 by entrepreneur Gary Burke.
The business specialises in UK mid-market commercial insurance.
The terms of the deal were not disclosed, but Magenta said its strategy is to make equity investments of between £5m and £20m.
Burke was a founder of Iprism, which was also backed by Magenta from 2010 to 2014 when it
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