The venture capital arm of Munich Re Group has closed a new $500 million fund established to invest in early/growth stage companies across five strategic sectors: insurance and climate technology, cybersecurity and privacy, commercial and industrial equipment tech, and future of transportation.
Munich Re Ventures now has over $1 billion in assets under management across four funds, each with a 10-year duration.
Out of the existing funds, over $280 million has been invested in 36 companies; a portfolio including some of the most successful unicorns from the first generation of insurtechs.
Along with the new fund, Munich Re Ventures will also expand their portfolio development platform designed to accelerate portfolio company success.
The platform connects entrepreneurs directly to Munich Re Group business leaders, ecosystem partners, and other industry executives across the globe to identify engagement opportunities and assist with partnership structuring and ongoing relationship coordination.
“Doubling our venture capital activities is a result of the Munich Re Group having already seen outstanding financial results and strategic value from the portfolio to us and the insurance industry,” said Thomas Blunck, Member of the Board of Management, Munich Re.
“Munich Re Ventures is an essential lever for Munich Re’s business and innovation strategy. With the new fund, MRV is set up to bring even more value to portfolio companies and co-investors with not only capital but increased access to Munich Re capabilities and our insurance partners.”
“We are thrilled by Munich Re’s recognition of the financial and strategic performance of our initial funds, and by their decision to double the size of the Munich Re Ventures platform for funding the most visionary and transformative entrepreneurs touching risk transfer,” said Jacqueline LeSage, Managing Director, Munich Re Ventures.
“The new fund approach and enhanced platform allow Munich Re Ventures to significantly amplify the distinctive value-add we bring to our portfolio companies,” said LeSage.
“Munich Re Ventures has deep connectivity within Munich Re and the insurance industry to help our portfolio companies accelerate their businesses. We will now expand our appetite to invest in companies where the strategic relevance is further out on the horizon.
“As a result, Munich Re Ventures will be able to invest earlier, make decisions faster, and provide increased access to experts and resources across the full network of Munich Re businesses and partners at the optimal time in a start-up’s funding arc.”