(Image source: USGS.)
MassMutual Ventures (MMV, Boston) has announced that its Asia-Pacific (APAC) and Europe team has launched a new fund of $300 million to invest in early and growth-stage companies in digital health, financial technology, enterprise SaaS, and cybersecurity. With this launch, the team has widened its investment reach to include Europe and will continue to invest in companies in the APAC region, according to an MMV statement.
“With this additional capital, we look forward to backing even more exceptional founders and supporting them as they scale over time,” comments Anvesh Ramineni, Managing Director, MassMutual Ventures. “Over the past three and a half years, we have led investments in companies fundamentally transforming the digital health, fintech and SaaS sectors in APAC, where we continue to see tremendous opportunity. Moreover, we are very excited about expanding our team and reach to Europe’s thriving tech and startup ecosystem—making MMV a truly global platform.”
Ryan Collins, Managing Director, MassMutual Ventures adds, “Through our team’s presence in the U.S., Europe and Asia, we offer portfolio companies insights into global markets, and access to significant networks, expertise, and later stage, growth capital—allowing us to support them over the long-term. We are particularly excited about the opportunity set in digital health, decentralized finance (DeFi), and AI/ML applications—key sectors and technologies in which MMV invests.”
Since its founding in 2014, MMV has backed over 60 startups across the U.S., Canada, Germany, Israel, India, Singapore, Indonesia, Hong Kong and Australia. Some of the APAC team’s portfolio companies include:
Biofourmis, a digital therapeutics company
Aspire, a SME-focused neobank
Qure.ai, an AI-powered diagnostics company
Zluri, a SaaS management company
Treehouse Finance, a DeFi portfolio management and analytics company
Microsec, an IoT security company
HelloBetter, a Berlin-based digital mental health company
“This fund reinforces MMV’s commitment to the Asia-Pacific region and to building a global platform as we look to capitalize on attractive opportunities in Europe,” comments Doug Russell, Managing Director and Head of MassMutual Ventures. “MMV’s overall investment capital has more than doubled in size in just two years, underscoring the significant opportunity we see in backing strong founders building great businesses. We look forward to continuing to back category-defining companies across the globe with this additional capital.”
Collins and Ramineni have led the APAC team since it was established in 2018. They are supported by Carlos Jo-Loo and Cheryl Teo. Reflecting the increased capital under management, geographic expansion and commitment to its portfolio companies, MMV plans to hire additional team members in both Asia and Europe.