MassMutual Ventures, the corporate venturing subsidiary of US-based insurance provider Massachusetts Mutual Life Insurance, launched its third US fund yesterday with $100m in capital.
Launched in 2014, MassMutual Ventures invests in financial, cybersecurity and digital health technology developers as well as enterprise software providers, participating in early and growth-stage rounds.
The unit has so far invested in almost 40 companies and its portfolio includes equity trading platform IEX, cyber risk management platform CyberGRX and data protection software producer Digital Guardian. It intends to back between 15 and 20 companies with the latest fund.
Eric Emmons, managing director of MassMutual Ventures, said: “We appreciate this continuation of MassMutual’s strong LP commitment to early and growth-stage venture capital.
“This new fund gives MMV the opportunity to back a new cohort of entrepreneurs in North America, Europe and Israel as these teams set out to build and expand category-defining businesses.”
The vehicle brings the unit’s overall capital under management to $450m, adding to a first fund in 2014 and a second one three years later, as well as a $50m Southeast Asian vehicle formed in late 2018 that was followed by a $100m successor in January this year.
