MassMutual Ventures announces third Boston-based $100 million fund

The new fund, which will extend the firm’s ability to invest in early- and growth-stage companies, brings its global investment capital to $450 million.

(Image source: MMV homepage.)

MassMutual Ventures (MMV, Boston) has launched a third $100 million venture capital fund to continue its strategy of investing in early- and growth-stage companies in the financial technology, cybersecurity, enterprise software, and digital health sectors.

Doug Russell, Managing Director MMV.

With this new fund, the Boston-based team will manage a total of $300 million on behalf of the fund’s parent company, Massachusetts Mutual Life Insurance Company (Springfield, Mass.) and have the ability to back an additional 15 to 20 companies in North America, Europe and Israel. It also brings MMV’s total capital under management to $450 million across the globe. MassMutual Ventures SEA, MMV’s Singapore-based team, invests across Southeast Asia and manages $150 million on behalf of MassMutual, with its most recent fund launch announced earlier this year.

“Direct investment strategies like MMV have demonstrated that MassMutual can profitably invest in innovative businesses that are creating meaningful change in the markets in which MassMutual and its subsidiaries operate,” comments Doug Russell, Managing Director and Head of MassMutual Ventures. “Since 2014, MMV has backed nearly 40 startup companies around the world. This additional capital for our U.S.-based fund represents a real opportunity to expand upon the success that the MMV fund family has realized over the past six years.”

MMV Managing Directors Eric Emmons and Mark Goodman have led the Boston-based team’s investment efforts since MMV’s inception and Principal Chuck Svirk joined the team shortly thereafter. The firm reports that they will continue to manage the $300 million fund family.

Eric Emmons, Managing Director, MMV.

“We appreciate this continuation of MassMutual’s strong LP commitment to early- and growth-stage venture capital,” comments Emmons. “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.”

Long-Term Investor

“MMV is a long-term investor with a practice of supporting our portfolio companies as they grow,” says Goodman. “In addition to providing initial and follow-on financial investment capital, MMV materially helps our founders by making strategic introductions across the financial services sector. MMV’s active and ongoing participation in the entrepreneurial marketplace allows our parent company and portfolio companies to collaborate, create strategic partnerships, and share valuable insights.”

“MMV’s investment sectors continue to be resilient despite the COVID-19 pandemic and the resulting economic uncertainty,” adds Svirk. “Fintech, cybersecurity, enterprise software, and digital health, are all fundamentally relevant to the changing face of work and commerce and to the corresponding digital transformation efforts of large enterprises. This new MMV fund reinforces the ongoing commitment of our fund and of our parent company, MassMutual, to remain at the forefront of these rapidly-changing markets.”

MassMutual Ventures Launches $100 million Second Fund for Southeast Asia

MassMutual Ventures Adds Second $100 Million Fund

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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