Swiss insurer Helvetia is the latest traditional institution to move into startups investment with the launch of its newly established venture fund.
Aiming to back startups that contribute to the digital transformation of its core business the Digital Venture department will invest around CHF55m ($55m) in 25 companies over the next few years.
Helvetia says it will set up a fund management company in Luxembourg to carry out the investments.
The fund will focus on startups in the insurtech space that directly impact the traditional insurance value chain but will also back companies that have business models connected to Helvetia or its clients’ businesses.
It says the investment will be made primarily in regions where Helvetia operates, such as Switzerland, Germany, France, Italy, Austria and Spain, to allow it to work closely with the startups.
Helvetia Group CEO Philipp Gmür said: “The Helvetia Venture Fund will make a substantial contribution to the successful implementation of the helvetia 20.20 strategy.
“In order to make use of business model innovations, we want to invest in the appropriate start-ups and work together with them.”
The fund looks to invest in companies with a completed product at either early or Series A stage as well as growth stage companies raising late stage, Series A, B or C rounds.
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