Belvedere Backs Insurance Startup

VRT Insurance Services, an Oakland insurance brokerage launched earlier this year, has raised $5 million from Belvedere Capital.

 

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Launched in early 2007, VRT Insurance Services has quickly established itself as a major contender in the insurance brokerage arena, shaking up the traditional brokerage model and forming an alliance with powerhouse private equity investment firm Belvedere Capital that resulted in a $5 million cash infusion to fuel further growth.

David Alvarado, VRT's founder and an alumnus of ABD (Redwood City, California), worked to build an executive management and business model that upped the ante in the brokerage industry. “We are attracting top-performing brokers by aligning goals, accountability and incentives. Our divisions share in profits, as well as equity, on a '50-50' basis,” he explained. “This allows us to gain both the attention of