MassMutual Ventures has revealed its third $100m venture capital fund, which will invest into FinTech, cybersecurity, enterprise software and digital health companies.
Based in Boston, the firm will look to back between 15 and 20 early and growth-stage companies in North America, Europe and Israel. MassMutual Ventures is the investment division of Massachusetts Mutual Life Insurance Company.
The Boston-based team of MassMutual now has a total of $300m in investment capital under management, while its Singapore team is managing a total of $150m in funds which are focused on Southeast Asia.
MassMutual closed its sophomore Southeast Asia-focused fund earlier this year on $100m.
MassMutual Ventures principal Chuck Svirk said, “MMV’s investment sectors continue to be resilient despite the COVID-19 pandemic and the resulting economic uncertainty.
“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.”
Earlier in the year, MassMutual backed the $14.5m Series A round of LinkSquares, which has seen a 300% year-over-year growth. The company builds AI-powered SaaS contract management and analysis tool which helps businesses better mitigate risks and liabilities.
MassMutual has also backed the $100m Series D of Policygenius, this year. The FinTech is an online marketplace which helps consumers to find the best insurance products for them.
MassMutual Ventures managing director Doug Russell said, “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.
“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.”
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