MassMutual Ventures, insurance firm Massachusetts Mutual Life Insurance’s corporate venturing arm, is among the limited partners (LPs) that have helped UK-based venture capital firm Crane Venture Partners close its first fund at $90m.
The Crane I seed fund attained its final close on Tuesday, following commitments from the UK government-backed British Patient Capital, along with unnamed entities and individual investors based in the US, Europe and Asia.
Crane has co-invested with corporates in recent months in companies including Onfido and Aire, having also partnered MassMutual Ventures to increase global presence for its portfolio of emerging data and enterprise tech developers.
Doug Russell, managing director and head of MassMutual Ventures, said: “We are excited to form a strategic partnership with one of the leading enterprise software venture capital teams in Europe, one that is highlighted by our investment in Crane’s new offering for enterprise and deep tech founders in the region.
“The Crane partners have a long and successful history of investment success, and we look forward to supporting its portfolio through leveraging our operating and venture businesses, deep relationships and presence around the globe, as Crane seeks rapid scale and market access.”
