
Blackstone invests in $500m round for Ki
Blackstone has invested in a $500m funding round for software-driven insurance technology company Ki.
Funds managed by Blackstone Tactical Opportunities and Fairfax Financial Holdings participated in the funding round.
Blackstone is currently investing from its third-generation Tactical Opportunities fund, which held an interim close on $4.09bn. It was 32% deployed as of September 2019.
The capital commitment will fund Ki's expansion as it launches in Q4 2020, enabling the business to grow rapidly to significant scale. It expects to begin trading in 2021.
Company
Founded in May 2020, Ki is an algorithm-driven digital insurance broker, approved by Lloyd's of London, and managed by speciality insurer and reinsurer Brit. It is based in London.
People
Blackstone – Qasim Abbas (senior managing director).
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