{"slug": "carbon-announces-signing-of-significant-growth-equity-investment-from-ftv", "title": "Carbon Announces Signing of Significant Growth Equity Investment from FTV Capital", "summary": "Carbon Underwriting Limited announced a significant growth equity investment from FTV Capital to accelerate its delegated underwriting platform, develop its Graphene data and AI technology, and support international expansion including the US market. The investment follows Carbon's growth from £150m to £471m in premium between 2023 and 2026.", "body_md": "# Carbon Announces Signing of Significant Growth Equity Investment from FTV Capital\n\nCarbon Underwriting Limited (“Carbon”), the market leading delegated authority underwriting specialist with its own Lloyd’s syndicate, is pleased to announce that it has signed an agreement for a significant growth equity investment from FTV Capital (“FTV”), a global sector-focused growth equity firm with a strong track record of investing in high-growth financial technology and services companies.\n\nThe years 2023-2026 have seen Carbon experience an exceptional period of growth with premium increasing from £150m to £471m at market-leading loss ratios; a growth trajectory that demonstrates the value and further potential of Carbon’s business model. This investment will accelerate Carbon’s growth across its delegated underwriting platform, fund continued development of its proprietary Graphene data and analytics technology, deepen its AI capabilities and support the company’s international expansion, including the build-out of its US business.\n\nThe transaction was led by Mike Vostrizansky, Richard Earnshaw and Max Weber from FTV. Carbon will benefit from FTV’s Global Partner Network®, a strategic group of more than 600 executives from many of the world’s leading enterprises, and FTV Propel®, the firm’s in-house team of seasoned operators, to accelerate execution across product, go-to-market and organisational scaling.\n\nCarbon will continue to operate independently, led by its existing management team and built around the same culture, strategic focus and underwriting discipline that have driven its success to date. These foundations will continue to guide the business as it enters its next chapter.\n\nJacqui Ferrier, Carbon CEO, said: “At Carbon, we set out in 2018 with a mission to revolutionise the world of delegated underwriting and establish a global benchmark. We remain committed to that mission and to building an independent, market-leading platform, serving clients globally. We are now building on our outstanding success so far with the backing of further experienced investors in FTV who have a strong track record and meaningful presence in the US and broader MGA market, bringing both credibility and strategic value.\n\n“Ben and I would like to extend a heartfelt thank you to Jeniv, Thomas and the team at Apiary Capital – our investors since 2023 – for their belief in our business and the support they have provided to allow us to scale quickly and responsibly. We are also deeply grateful to our managing agents Asta, Lloyd’s, our partners, coverholders, capital providers, reinsurers, brokers and the entire Carbon team for their support and commitment throughout our journey from SIAB through to now. And of course, a special thank you to our co-founder and friend Nick Tye, who has played such an important part in the Carbon story.”\n\nBen Laidlaw, Carbon managing director, said: “We are delighted with the enthusiasm for Carbon that we have seen through this fast-moving process, underlining the strength of the business and the value that investors perceive, as well as the strong interest in the Lloyd’s and wider London insurance market. The last three years have seen us grow considerably, providing exceptional service for clients new and old supported by our ground-breaking Graphene platform, and our new investors are fully committed to our approach. We are very excited about the next steps working with FTV.”\n\n“Carbon has cracked one of the most attractive, underserved corners of the insurance market, and its data-led approach to delegated underwriting resonates strongly with where the industry is heading,” said Mike Vostrizansky, partner at FTV. “The U.S. represents a substantial, largely untapped opportunity for that proposition, and it’s where FTV can add differentiated value, drawing on our experience scaling financial technology businesses, our network of U.S. carriers and distribution partners, and FTV Propel to help Carbon build the team and capabilities required to support its next phase of growth.”\n\n“Carbon has established itself as a scaled, profitable and highly differentiated platform in one of the most attractive segments of the Lloyd’s market,” said Richard Earnshaw, partner at FTV. “Its focus on low-volatility SME risk, combined with the real-time visibility and portfolio control delivered by Graphene, has produced an exceptional and consistent underwriting track record and strong customer retention. We have deep conviction in Carbon’s data-driven approach and its multiple levers for growth, and we are excited to partner with Jacqui, Ben and the rest of the Carbon team to capitalise on the opportunity ahead.”\n\nJeniv Shah, partner at Apiary Capital, commented: “We are incredibly proud to have been a part of Carbon’s story since our investment in 2023. Jacqui, Ben and the rest of the team have built a truly special business, with a wonderful culture, and they have done an excellent job trebling the size of the business and diversifying it into new markets over the last three years. We have no doubt that with FTV on board the business is well placed to continue its stellar growth.”\n\nHowden Capital Markets & Advisory served as exclusive financial advisor to Carbon Underwriting. Houlihan Lokey and Acrisure Re Corporate Advisory & Solutions served as financial advisors to FTV Capital. Browne Jacobson and Norton Rose Fulbright supported Carbon on legal counsel, while Skadden served as buyer counsel. Jamieson Corporate Finance advised management on the deal. Financial terms of the transaction were not disclosed.\n\n**About Carbon**\n\nCarbon combines underwriting expertise with innovative technology to deliver tailored capacity solutions for our delegated partners. We set out in 2018 with a mission to transform underwriting by blending deep industry expertise with cutting edge technology. We empower brokers, cover holders and reinsurers with smart, data-driven solutions that streamline processes and drive growth. This is administered through our in-house technology ecosystem, Graphene. Carbon Underwriting Limited (Carbon) operates principally as Syndicate CBN 4747 at Lloyd’s.\n\nFor more information, please visit: [www.carbonuw.com/](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.carbonuw.com%2F&esheet=54562466&newsitemid=20260630907172&lan=en-US&anchor=www.carbonuw.com%2F&index=1&md5=d5940b892b845d8d7fc682fc6e18f1ad)\n\n**About FTV Capital**\n\nFTV Capital is a sector-focused growth equity investment firm that has raised more than $10.2 billion to invest in innovative, high-growth companies across financial technology and services, vertical software, enterprise technology and services, and healthcare technology and services. Founded in 1998, FTV has developed a highly differentiated and disciplined growth equity model, which leverages the firm’s deep domain expertise and thematic investing approach to help portfolio companies accelerate growth. FTV also provides companies with access to its Global Partner Network®, a strategic group of more than 600 executives from many of the world’s leading enterprises, and FTV Propel®, an in-house team of seasoned operational leaders who deliver counsel and resources across a range of critical business functions. FTV has invested in over 150 portfolio companies, including Agiloft, Derivative Path, Edgewater Markets, FundApps, Masttro, True Potential and Zema Global and successfully exited/partially exited Apex Fund Services (acquired by Genstar), Centaur (acquired by Waystone Group), Egress (acquired by KnowBe4), Enfusion (acquired by Clearwater Analytics), VPay (acquired by Optum) and Strata Fund Solutions (acquired by Alter Domus). For more information, please visit [ www.ftvcapital.com](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fftvcapital.com%2F&esheet=54562466&newsitemid=20260630907172&lan=en-US&anchor=www.ftvcapital.com&index=2&md5=487122ed66b401bdcb00052a8fa2d1fd) and follow the firm on\n\n[.](https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fftv-capital&esheet=54562466&newsitemid=20260630907172&lan=en-US&anchor=LinkedIn&index=3&md5=98772fdb30345f492813a834725dd93a)**LinkedIn**\n\nView source version on businesswire.com: [https://www.businesswire.com/news/home/20260630907172/en/](https://www.businesswire.com/news/home/20260630907172/en/)\n\n### Contact\n\n**Carbon\n**\n\nHaggie Partners – Caroline Klein / Olivia Thomson / Finlay Gardner\n[carbon@haggiepartners.com\n](mailto:carbon@haggiepartners.com)\n\n+44 (0) 207 562 4444\n\n**FTV Capital\n**\n\nProsek Partners\n[pro-ftvcapital@prosek.com\n](mailto:pro-ftvcapital@prosek.com)\n\n646-818-9207", "url": "https://wpnews.pro/news/carbon-announces-signing-of-significant-growth-equity-investment-from-ftv", "canonical_source": "https://www.cityam.com/carbon-announces-signing-of-significant-growth-equity-investment-from-ftv-capital/", "published_at": "2026-06-30 07:00:00+00:00", "updated_at": "2026-06-30 07:26:59.978156+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-products", "ai-infrastructure"], "entities": ["Carbon Underwriting Limited", "FTV Capital", "Lloyd's", "Asta", "Apiary Capital", "Jacqui Ferrier", "Ben Laidlaw", "Mike Vostrizansky"], "alternates": {"html": "https://wpnews.pro/news/carbon-announces-signing-of-significant-growth-equity-investment-from-ftv", "markdown": "https://wpnews.pro/news/carbon-announces-signing-of-significant-growth-equity-investment-from-ftv.md", "text": "https://wpnews.pro/news/carbon-announces-signing-of-significant-growth-equity-investment-from-ftv.txt", "jsonld": "https://wpnews.pro/news/carbon-announces-signing-of-significant-growth-equity-investment-from-ftv.jsonld"}}