IA Capital Group, an insurtech-focused venture capital firm, has announced that it has raised $150 million across three funds, representing its sixth, seventh and eight investment vehicles.
The funds include: Inter-Atlantic Stonybrook Insurtech Ventures, a multi-LP fund focused on P&C insurtech Inter-Atlantic; G Fund, a single-LP fund focused on life/annuity/retirement insurtech; and Inter-Atlantic Icy, a single-LP fund focused on later-stage opportunities in insurtech.
IA Capital oversees venture capital investments on behalf of a variety of institutions, including 13 re/insurers with a strategic interest in insurtech.
“Our insurance company investors benefit from our cornerstone focus on financial returns coupled with strategic insight into insurtech,” said Andrew Lerner, Managing Partner of IA Capital.
“Our entrepreneurs appreciate working with a financially-motivated independent VC firm while capitalizing on strategic connections into our insurance company partners,” he added.
IA Capital limits its investment activities to North American post-revenue companies, with a preference for Series A, B, and C funding rounds. Occasionally, the firm launches and incubates its own startup company.
The firm has recently led funding rounds for insurtechs Authentic4D, Protecht dba TicketGuardian , Compstak, SmartAsset, Sure, Wellthie, Snapsheet, Marqeta and Credit Sesame.
It has also acted as an incubator for Boost Insurance and has participated in funding rounds for Clearcover and Advizr.
Stonybrook Capital acted as placement agent to Inter-Atlantic Stonybrook Insurtech Ventures.