London-based investment firm Bridges Ventures has sold Insurance Dialogue Ltd (IDL) to insurance underwriter, Equity Insurance Group for an undisclosed sum.
Founded and managed by industry specialist David Holden, IDL is an insurance broker that provides insurance products to the over 50s. Bridges Ventures began investing in IDL four years ago and in that time it has persued an aggressive expansion strategy which has inlcuded the building of a call centre in Bournemouth.
Bridges Ventures’ main financial backers include the co-founder and former chairman of Apax Partners, Sir Ronald Cohen, 3i and Doughty Hanson. The firm has successfully raised three funds to date, Venture Funds I & II and the Bridges Social Entrepreneurs Fund.