Ron Arnold has left his managing general partner position at IAG Firemark Ventures, the corporate venture capital (CVC) subsidiary of insurance firm Insurance Australia Group (IAG).
Arnold joined IAG in 2008, where he held a series of strategy-based roles before eventually helping the corporate form IAG Firemark Ventures in 2014.
The role involved taking the unit “from an idea to a fully functioning $75m CVC, making two to three quality investments a year,” he told Global Corporate Venturing.
Firemark Ventures targets insurance-related technology developers at series A stage and beyond. Its investments during Arnold’s tenure included family mobility technology developer Life360, job and task marketplace owner Airtasker and cybersecurity software developer Upguard. IAG exited Life360 in an initial public offering in May 2019.
Executive general manager of venturing and operations Danielle Handley has succeeded Arnold and will oversee the unit alongside general partners Scott Gunther, Mark Baragwanath and 2017 GCV Rising Star Mike Dovey.
Arnold has founded advisory firm 11eight as managing director following his departure, and is looking to help corporates identify open innovation opportunities and support entrepreneurs who wish to collaborate with large companies.
Photo of Ron Arnold courtesy of LinkedIn.
