IA Capital raises $150 mln

IA Capital Group said April 3 that it raised $150 million across three funds. They include Inter-Atlantic Stonybrook Insurtech Ventures, Inter-Atlantic G Fund and Inter-Atlantic Ivy. IA Capital, of New York, focuses on insurtech. Stonybrook Capital acted as placement agent to Inter-Atlantic Stonybrook Insurtech Ventures.

PRESS RELEASE

NEW YORK, April 3, 2019 /PRNewswire/ — IA Capital Group, the leading insurtech focused venture capital firm, today announced it has raised $150 million across three funds:

 

  • Inter-Atlantic Stonybrook Insurtech Ventures, a multi-LP fund, focusing on property/casualty insurtech
  • Inter-Atlantic G Fund, a single-LP fund, focusing on life/annuity/retirement insurtech
  • Inter-Atlantic Ivy, a single-LP fund, focusing on later-stage opportunities in insurtech and fintech

 

The three funds represent the firm’s sixth, seventh and eighth investment vehicles. With seven current funds/managed accounts plus its fully-exited first fund, IA Capital is the longest-tenured and most experienced firm with a primary focus on insurtech. The firm oversees venture capital investments on behalf of a variety of institutions including 13 insurers that have a strategic interest in insurtech. These 13 insurance companies represent nearly all sectors of insurance including property/casualty, life, mortgage, and financial guaranty.

 

Andrew Lerner, the Managing Partner of IA Capital, said “Our insurance company investors benefit from our cornerstone focus on financial returns coupled with strategic insight into insurtech. Our entrepreneurs appreciate working with a financially-motivated independent VC firm while capitalizing on strategic connections into our insurance company partners.”

 

IA Capital limits its investment activities to North American post-revenue companies, with a preference for Series A, B, and C funding rounds. Occasionally, the firm launches and incubates its own startup company.

 

Recent IA Capital investments include:

  • Led Authentic4D Series A
  • Co-led Protecht dba TicketGuardian Series A
  • Led Compstak Series B
  • Clearcover Series B
  • Incubated Boost Insurance
  • Led SmartAsset Series B
  • Led Sure Series A
  • Advizr Series A
  • Led Wellthie Series A
  • Co-led Snapsheet Series C
  • Led Marqeta Series C
  • Led Credit Sesame Series D

 

Stonybrook Capital acted as placement agent to Inter-Atlantic Stonybrook Insurtech Ventures.

 

About IA Capital Group:

 

Founded in 1992, IA Capital Group Inc. (previously Inter-Atlantic Group) is based in New York City and manages venture capital funds under the Inter-Atlantic name. The firm has a 19-year track record in insurtech and fintech venture capital, the longest of any insurtech-focused venture capital firm. Its fully-exited first fund, Inter-Atlantic Fund LP, had three portfolio company IPOs and ranks as the number one performing fund in several databases among comparable funds of its vintage. The firm’s principals also oversee Homeowners of America Holding Corporation, a Texas-based property insurer that wrote over $160 million of premiums in 2018.