Munich Re Ventures wraps up new fund at $500m

Munich Re Ventures, Munich Re Group’s venture arm, has closed its latest fund at $500 million. The fund will invest in early-stage and growth-stage companies across five strategic sectors, including insurtech, climate tech, cybersecurity and privacy, commercial and industrial equipment technologies, and future of transportation.

Correction: The above post initially described the fund as its second. The firm has now raised four funds.

PRESS RELEASE

SAN FRANCISCO, Oct. 12, 2021 /PRNewswire/ — Munich Re Ventures, the venture capital arm of Munich Re Group, today announced it has closed its new $500 million Munich Re Fund II. With the addition of this fund, Munich Re Ventures will invest in early stage and growth stage companies across five strategic sectors, including InsurTech, ClimateTech, Cybersecurity and Privacy, Commercial and Industrial Equipment Technologies, and Future of Transportation.

Munich Re Ventures now has more than $1 billion in assets under management across four funds, each with a 10-year duration. Out of the existing funds, MRV has invested over $280 million in 36 companies. The portfolio includes many of the most successful unicorns from the first generation of insurtechs. In addition, MRV has invested in companies that hold novel risk-related applications in areas as diverse as fintech, climate transition, space economy, and IoT.

“Doubling our venture capital activities is a result of the Munich Re Group having already seen outstanding financial results and strategic value from the portfolio to us and the insurance industry,” said Thomas Blunck, Member of the Board of Management, Munich Re. “Munich Re Ventures is an essential lever for Munich Re’s business and innovation strategy. With the new fund, MRV is set up to bring even more value to portfolio companies and co-investors with not only capital but increased access to Munich Re capabilities and our insurance partners.”

The Munich Re Ventures investment team will build upon their proven track record of funding the most innovative start-ups transforming the future of risk and risk transfer, while also focusing on the strategic interests of Munich Re and the broader insurance industry.

“We are thrilled by Munich Re’s recognition of the financial and strategic performance of our initial funds, and by their decision to double the size of the Munich Re Ventures platform for funding the most visionary and transformative entrepreneurs touching risk transfer,” said Jacqueline LeSage, Managing Director, Munich Re Ventures.

Along with the new fund, Munich Re Ventures will also expand their Portfolio Development platform designed to accelerate portfolio company success. The platform connects entrepreneurs directly to Munich Re Group business leaders, ecosystem partners, and other industry executives across the globe to identify engagement opportunities and assist with partnership structuring and ongoing relationship coordination.

“The new fund approach and enhanced platform allow Munich Re Ventures to significantly amplify the distinctive value-add we bring to our portfolio companies,” said LeSage. “Munich Re Ventures has deep connectivity within Munich Re and the insurance industry to help our portfolio companies accelerate their businesses. We will now expand our appetite to invest in companies where the strategic relevance is further out on the horizon. As a result, Munich Re Ventures will be able to invest earlier, make decisions faster, and provide increased access to experts and resources across the full network of Munich Re businesses and partners at the optimal time in a start-up’s funding arc.”

With the expanded platform and a team of seasoned, industry-expert investors, Munich Re Ventures is uniquely positioned to help portfolio companies navigate the world of risk by providing capital, board leadership, industry and investor connections, operational support, and technical expertise.

About Munich Re Ventures
Munich Re Ventures is the venture capital arm of Munich Re Group, one of the world’s leading providers of reinsurance, primary insurance, and insurance-related risk solutions. With more than $1 billion in assets under management, Munich Re Ventures invests in the most innovative start-ups transforming the future of risk and risk transfer. MRV’s experienced investors are financially-driven while focused on the strategic interests of Munich Re and the broader insurance industry. MRV works closely with Munich Re Group businesses across the globe to fund and partner with the best emerging companies developing new technologies and business models – and risks – for tomorrow’s world. For more information, visit www.munichreventures.com