Luzern Risk, a full-service captive manager specialising in alternative risk solutions, has raised USD 45 million in a Series B led by Insight Partners, with participation from Trust Ventures and existing investor Caffeinated Capital, to advance platform development, expand AI capabilities, and provide clients with additional options across the alternative risk value chain.
Through these developments, Luzern Risk will use the investment to deliver more efficient captive services and better risk insights for clients, bolster its operational strength by systemising operations across the business, and drive growth.
Caffeinated Capital initially led the company’s seed round in 2023 and the USD 12 million Series A round in 2025.
Luzern Risk’s AI-native technology platform is designed to significantly shorten the time required to launch and administer custom captive programs at scale, explained the firm.
The company works alongside brokers, fronting carriers, reinsurers, and advisors who are similarly committed to meeting the demand for captives.
Gabriel Weiss, Chief Executive Officer and Co-Founder, Luzern Risk, commented, “We set out to make captives more accessible to a broader set of the market, and everything we have learned since has strengthened our conviction that captives will play a far bigger role in risk management than they do today. This investment lets us do what we care about most: deliver better outcomes for our clients, at a much greater scale.”
Jonathan York, Chief Technology Officer and Co-Founder, Luzern Risk, added, “This is a space where technology can have an outsized impact for clients. Every process we automate makes a captive more efficient to run while increasing quality, and every capability we add gives owners something they could not get before. The feedback we hear from our clients as we co-develop solutions with them gives us confidence we’re onto something that will be great for insurance industry-wide.”
Philine Huizing, Managing Director at Insight Partners, said, “The captive market is undergoing a structural expansion, moving from a tool reserved for large multinationals into a viable strategy for a much broader universe of companies. Luzern is building the infrastructure layer that makes that expansion possible. We backed this team because we believe they are defining how risk finance gets done, and we’re excited to support them in this next phase of growth.”
Varun Gupta, General Partner, Caffeinated Capital, explained, “We led the seed and Series A rounds of Luzern because we believed in Gabriel’s vision of modernizing captives. We look forward to tripling down as this exceptional team continues to execute against the massive opportunity of building the world’s best alternative risk solutions.”
