MetLife Expands VC Investment Team

Eric Fitzgerald has joined the venture capital investment unit of MetLife. He previously was a partner in the fund-of-funds group of Thomas Weisel Partners, and before that was with Liberty Mutual. MetLife plans to invest $100 million each year in venture capital and growth equity partnerships.

PRESS RELEASE

MetLife announced today the expansion of its venture capital team as part of a larger initiative to increase the diversification of MetLife’s alternative investments portfolio. They will target $100 million annually in global venture capital/growth equity partnership investments, primarily in the information technology, life sciences and clean technology sectors.

Eric Fitzgerald recently joined MetLife and will be leading its expanded venture capital program, under Mike Mazzola, who heads domestic private equity. “We are investing in all stages of venture, from seed to expansion, with seasoned venture capital and growth equity managers who have strong historical returns and a proven record in executing investment strategy,” said Fitzgerald.

Fitzgerald joins MetLife from Thomas Weisel Partners (TWP), where he was one of three partners responsible for their fund of funds program. Prior to joining TWP, Fitzgerald was a member of Liberty Mutual Group’s in-house fund of funds team. Over the course of his career, Fitzgerald has sourced, closed, and managed over $600 million in fund investments.

Throughout Mazzola’s almost 20 year career, he has managed private debt, equity and partnership investments for MetLife, a private client advisory business for a European investment firm, and direct venture capital investments as general partner at Inter-Atlantic Fund.

About MetLife

Celebrating 140 years, MetLife, Inc. is a leading provider of insurance and financial services with operations throughout the United States and the Latin America, Europe and Asia Pacific regions. Through its domestic and international subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million customers around the world and MetLife is the largest life insurer in the United States (based on life insurance in-force). The MetLife companies offer life insurance, annuities, auto and home insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance and retirement & savings products and services to corporations and other institutions. For more information, please visit www.metlife.com.