Real Estate

Kimberly Redmond | |

Real estate technology startup Doma – formerly known as States Titles – announced Tuesday it is going public through a merger with a special purpose acquisition company (SPAC) that values Doma at $3 billion including debt.

The deal will provide $645 million in cash proceeds to Doma, including $345 million from Capitol Investment Corp V (NYSE: CAP) and $300 million from a fully committed private investment in public equity (PIPE) transaction. Investors in the PIPE include BlackRock, Fidelity Investments, SoftBank Group and Wells Capital Management.