Liberty Mutual Strategic Ventures, the corporate venturing arm of US insurance firm Liberty Mutual, has launched a second fund, with $200m allocated to invest in startups reshaping the property and casualty insurance sector.
The fund will invest in startups across the areas of AI, data, cybersecurity and the energy transition, as well as tech relating to property and vehicles.
It will primarily focus on companies from the seed to series B stages, with investments ranging between $750,0000 and $5m. The fund will consider companies globally, but will mainly focus on the US and Europe.
A key emerging opportunity in the insurance sector is the use of AI, both for customer-facing uses and as a tool to calculate premiums or help decide on claims. The industry is also investing in startups working in climate change risk prediction and mitigation.
The CVC’s first $150m fund was launched in 2015. Portfolio companies include Driver, a vehicle safety software developer, and Pyte, an enterprise solution for data analysis.
Exits include August Home, a home security company, and Notion, which allows users to monitor their home security using sensors linked to an app.
