Erie Insurance has launched a venture capital division dedicated to investing in and providing support for visionary entrepreneurs.

Erie Strategic Ventures’ focus will span the personal and commercial insurance value chain. Initial areas of interest include insurance innovation in risk avoidance, claims, underwriting, digital sales, agency productivity tools, and products and services for home, families and small businesses.

The fund will focus primarily on early-stage investments in North America.

“We are excited to build upon our expanding innovation efforts with the launch of this venture fund,” said Keith Kennedy, senior vice president for Next Level Innovation at Erie Insurance. “Erie is committed to a culture of service, and our corporate values will translate well into supporting the founders we invest in.”

Erie Strategic Ventures will partner with Touchdown Ventures, a firm specializing in corporate venture capital, which will work closely with senior executives at Erie on fund operations.

“We are thrilled to partner with a values-driven company such as Erie Insurance that has the scale, resources and ability to make a positive impact on the corporate venture landscape,” noted Rich Grant, co-founder and managing director of Touchdown Ventures.