Bregal Sagemount and FTV Capital to take minority stake in digital insurtech firm Neptune Flood

• Morgan Stanley & Co. LLC served as financial advisor to Neptune while Howden Tiger Capital Markets & Advisory acted as financial advisor to Bregal Sagemount and FTV
• Bregal Sagemount has raised more than $6.5 billion of capital
• FTV Capital targets the enterprise technology and services, financial services, and payments and transaction processing sectors

Bregal Sagemount and FTV Capital will acquire a substantial minority stake in St. Petersburg, Florida-based Neptune Flood, a digital insurtech platform and private flood insurance provider. No financial terms were disclosed.

Moving forward, Neptune CEO and management will maintain majority ownership.

Neptune launched in 2018.

“Sagemount has been investing in and following the insurance and MGA markets for several years and we are incredibly impressed by the innovative technology that Neptune has built,” added Blair Greenberg, a partner at Sagemount, in a statement. “The company has truly disrupted the traditional flood insurance market and we are excited to support them as they continue to bring their insurtech solution to more customers.”

Morgan Stanley & Co. LLC served as financial advisor to Neptune while Howden Tiger Capital Markets & Advisory acted as financial advisor to Bregal Sagemount and FTV.

Based in New York, Palo Alto and Dallas, Bregal Sagemount has raised more than $6.5 billion of capital.

FTV Capital targets the enterprise technology and services, financial services, and payments and transaction processing sectors.