MassMutual Ventures, US-based insurance firm MassMutual’s corporate venture capital arm, launched a $100m Southeast Asia fund yesterday, bringing the unit’s overall capital under management to $350m.
Founded in 2014, MassMutual Ventures invests in areas such as financial technology, digital health, cybersecurity and enterprise software. The new vehicle is its fourth, two of which are $100m funds that are overseen by its US office.
The launch of the latest fund follows MassMutual’s establishment of a $50m vehicle for Southeast Asian investments in late 2018. Its portfolio in that region includes market research provider Milieu Insight, online advice platform Lynk and online lender Aspire.
The second Southeast Asian fund will widen the geographical range of the 2018 fund and will explore deals in neighbouring territories like India, Australia, New Zealand and Hong Kong. It is being led by managing directors Ryan Collins and Anvesh Ramineni.
Doug Russell, head of MassMutual Ventures, said: “We are excited to significantly expand our international presence with this second fund for MMV SEA. This additional capital will allow us to invest in more startups in the region that have the ability to generate positive returns for MassMutual.
“Furthermore, we can continue to build a truly global MMV platform, giving entrepreneurs access to significant networks and expertise, while providing MassMutual with valuable insights into new trends, technologies and solutions that are being developed around the world.”
