Northwestern Mutual Announces $150M Venture Capital Commitment, Fund II

Building on the success of an original corporate venture capital fund, Fund II will continue to grow the company’s venture investment portfolio aimed at transforming how consumers achieve financial security.

(Milwaukee. Image credit: Allan Haas.) 

Northwestern Mutual (Milwaukee) has announced that it has designated $150 million to form Northwestern Mutual Future Ventures Fund II, an extension of the company’s corporate venture capital fund that launched in 2017. The company says that Northwestern Mutual Future Ventures Fund II will continue to advance the Northwestern Mutual’s investment strategy and provide a greater opportunity to engage startups whose technologies have the potential to further transform how people experience and achieve financial security.

Souheil Badran, EVP and Chief Innovation Officer, Northwestern Mutual.

“We’re committed to transforming the client experience to drive change within the financial services industry,” comments Souheil Badran, executive VP and Chief Innovation Officer. “This additional capital will allow us to build on the success of Northwestern Mutual Future Ventures and invest in new technologies that have the ability to accelerate growth and advance innovation so we can create what’s next for our clients, financial representatives and employees.”

The investment criteria and focus for Fund II will be consistent with Northwestern Mutual Future Ventures Fund I, the company reports. Investments, which will range from $500,000 to $5 million, will typically begin in Series A or B funding rounds. Partnerships will focus on four key strategic investing areas:

  • Building for consumers’ changing financial preferences
  • Reimagining the client experience
  • The digital health revolution
  • Transformational analytics and technologies

Since launching in 2017, Northwestern Mutual Future Ventures has completed investments in 14 startups and deployed $43 million in capital. The company says that Fund II will further accelerate Northwestern Mutual’s venture investing and create deeper engagement with startups to align with the company’s strategy and goals, as well as increase focus on technological disruption.

Northwestern Mutual Launches VC Fund to Support Milwaukee Startups

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.

Comment (1)

  1. Good luck — wish them the best. So why did they step away from LearnVest, which reportedly cost them a whole lot more than Fund II will? and which, I believe, damages the industry’s ventures in consumer education even more…

Leave a Comment

(required)