Capitol Investment completed the merger with Doma in a $3bn deal.

Capitol Investment, a publicly traded special purpose acquisition company, completed the merger with Doma, which uses machine intelligence and its patented technology solutions to transform residential real estate, making closings instant and affordable, in a $3bn deal. The transaction includes $645m in cash proceeds, including a fully committed PIPE of $300m and up to $345m of cash held in the trust account of Capitol Investment V. Investors anchoring the PIPE BlackRock, Fidelity Management & Research Company, The Gores Group, Hedosophia, SB Management, a subsidiary of SoftBank Group, and Wells Capital. Existing Doma shareholder, Lennar, has also committed to the PIPE and Spencer Rascoff, co-founder and former CEO of Zillow Group, has committed a personal investment to the PIPE. "Through this transaction, Doma will be uniquely positioned to capitalize on the market opportunity to provide much-needed and long overdue innovation to the home closing experience. We are excited to work with Max and the talented Doma team to make the future of real estate transactions a better, faster and more accessible experience for homeowners, and we are confident that together we can deliver superior returns for shareholders long into the future,” Mark Ein, Capitol Chairman and CEO.