US-based insurance provider Annexus launched a strategic venture capital firm on Wednesday called Annexus Ventures to invest in insurance, financial and software technology startups.
Annexus Ventures will focus on investments in early-stage companies developing financial services, retirement planning and insurance technology, and it is leaning towards the most potentially disruptive products.
The firm has not disclosed whether it will invest from a dedicated fund or from its parent company’s balance sheet, and has not revealed figures with regard to investment range.
Jim Richards, chief strategy officer for Annexus since 2013, has been appointed managing partner of the fund. Annexus co-founders Ron Shurts and Don Dady are also involved with the firm in board director roles.
Shurts said: “Our leadership team understands that commitment to our technology partners goes beyond the initial capital infusion and first phases of expansion.
“We tap into the invaluable relationships we have cultivated with carriers, investment banks, broker dealers, financial institutions and advisors to help our investment partners grow and gain adoption.”