Munich Re Ventures, the venture capital arm of Munich Re Group, has closed its new $500 million investment fund, with plans to focus, in part, on InsurTech and cybersecurity.
The new financing arm, dubbed Munich Re Fund II, will also focus on Privacy, Commercial and Industrial Equipment Technologies, and Future of Transportation.
Munich Re Ventures now has more than $1 billion in assets under management across four funds, each with a 10-year duration. Out of the existing funds, MRV has invested over $280 million in 36 companies, the company noted in its an announcement. The portfolio includes a number of first-generation InsurTechs. Among them: At-Bay, Next Insurance, Slice Labs, and Trov.
In addition, MRV has invested in companies that hold novel risk-related applications in areas as diverse as fintech, climate transition, space economy, and IoT.
“Doubling our venture capital activities is a result of the Munich Re Group having already seen outstanding financial results and strategic value from the portfolio to us and the insurance industry,” Thomas Blunck, Member of the Board of Management at Munich Re, said in prepared remarks.
The Munich Re Ventures investment team will focus on funding innovative startups that have benefits for the strategic interests of Munich Re and also the broader insurance industry, according to the company.
Along with the new fund, Munich Re Ventures will also expand its Portfolio Development platform, which is designed to accelerate portfolio company success. The platform connects entrepreneurs directly to Munich Re Group business leaders, ecosystem partners, and other industry executives across the globe to identify engagement opportunities and assist with partnership structuring and ongoing relationship coordination.
With the expanded platform and a team of seasoned, industry-expert investors, Munich Re Ventures is uniquely positioned to help portfolio companies navigate the world of risk by providing capital, board leadership, industry and investor connections, operational support, and technical expertise.
Source: Munich Re