AV8 Ventures, the US-headquartered venture capital firm backed by insurance group Allianz, launched a $180m second fund yesterday.
Formed in 2018, AV8 invests in healthcare, enterprise, financial and deep technology having emerged in April 2019 with a $170m fund for which Allianz supplied the entirety of the capital.
The firm has built a 22-strong portfolio which includes Delfi Diagonistics, the liquid biopsy technology developer that raised $100m in January this year, in addition to digital design assistant provider Uizard and cybersecurity technology developer Eclypsium.
Ivan de la Sota, Allianz’s chief business transformation officer, said: “AV8 complements Allianz’s digital investment activities and plays an important role in our investment strategy by bringing insights into emerging, early-stage technologies in areas such as cybersecurity, healthcare and digitisation.
“We look forward to deepening our partnership with AV8 and are excited about the startups this new fund will support.”
AV8 managing director George Ugras added: “We are humbled by the continued support from Allianz and our founders who have chosen to partner with us. We will continue to focus on funding seed-stage startups modernising enterprise, healthcare and financial services with deep technology.”
