Munich Re Ventures Closes $500 Million Munich Re Fund II

With $1B AUM across four funds, Munich Re Ventures says it will broaden its approach to investing in the most innovative start-ups transforming the future of risk.

(Image source: MRV homepage.)

Munich Re Ventures (MRV, San Francisco), the venture capital arm of Munich Re Group (Munich), has announced the closing of a new $500 million Munich Re Fund II. The company says that, with the addition of this fund, it will invest in early stage and growth stage companies across five strategic sectors, including InsurTech, ClimateTech, Cybersecurity and Privacy, Commercial and Industrial Equipment Technologies, and Future of Transportation.

Thomas Blunck, Member of the Board of Management, Munich Re.

Munich Re Ventures reports that it now has more than $1 billion in assets under management (AUM) across four funds, each with a 10-year duration. Out of its existing funds, MRV has invested over $280 million in 36 companies. The portfolio includes successful unicorns from the first generation of InsurTechs, including Next (Palo Alto, Calif.), Hippo (Palo Alto, Calif.), At-Bay (San Francisco), and Bought By Many (London). In addition, MRV has invested in companies that hold novel risk-related applications in areas as diverse as fintech, climate transition, space economy, and IoT.

“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,” comments 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.”

Munich Re Ventures says that its investment team members will build upon their proven track record of funding what they identify as the most innovative start-ups transforming the future of risk and risk transfer, while also focusing on the strategic interests of Munich Re and the broader insurance industry.

“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,” comments Jacqueline LeSage, Managing Director, Munich Re Ventures.

Expanding Portfolio Development Platform

Jacqueline LeSage, Managing Director, Munich Re Ventures.

Along with the new fund, Munich Re Ventures will also expand its 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.

“The new fund approach and enhanced platform allow Munich Re Ventures to significantly amplify the distinctive value-add we bring to our portfolio companies,” comments 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.”

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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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