Insurtech competition continues to heat up....
From FINSMES: Insurtech, Liberty Mutual Insurance Launches $150M Venture Capital Fund.
Liberty Mutual Insurance’s personal insurance business unit, Liberty Mutual Global Consumer Markets, has formed a new venture capital initiative. Liberty Mutual Strategic Ventures (LMSV) is a $150m early-stage fund focused on the intersection of innovative technology and services and the insurance industry supporting entrepreneurs to bring products and services to market faster.
Focus areas, aligned to Liberty Mutual Global Consumer Markets’ overall innovation strategy, are centered on the Connected Home, Next-Generation Vehicle and Sharing Economy. The fund has made its first investment in August Home, a provider of smart locks and other smart home access products and services.
From Fortune: Liberty Mutual Launches Venture Capital Group
“We’ll have three core focus areas,” says Russ MacTough, a managing director with Liberty Mutual Strategic Ventures. “The connected home, next-generation vehicles and the on-demand economy.”
MacTough adds that the group’s goal is to invest between $1 million and $5 million per deal ― usually as a co-investor ― which could range from institutional seed rounds through Series B.
