Japan-based insurer Sompo has expanded its corporate venturing activities into Europe with a commitment to UK-based Isomer Capital’s second fund of funds.
Isomer’s first fund raised over €100m ($113m) and made 34 investments (a mix of VC funds and direct co-investments in the startups). Isomer’s second fund, launched in July 2020, raised €250m and has made 20 investments.
Founded in 2015, Isomer said it helped Sompo’s innovation centre in Israel access European startups.
Yinnon Dolev, head of Sompo Digital Lab Israel and Europe, said: “Our partnership will offer Sompo a clear path to Europe’s innovation ecosystem and best opportunities.”
Chris Wade, partner and co-founder of Isomer Capital, added: “In addition to locating insure-tech ventures to enhance insurance operations, following our partnership we understand that Sompo is looking for new verticals in mobility, digital health and eldercare, wellness, cyber security, industry 4.0, smart cities, agritech, resilience tech, and more.”
