New fund brings global investment capital to $450 million
BOSTON, June 3, 2020 – MassMutual Ventures (MMV) announced today that it has launched a third $100 million venture capital fund to continue its successful strategy of investing in early- and growth-stage companies in the financial technology, cybersecurity, enterprise software, and digital health sectors.
With this new fund, the Boston-based team will manage a total of $300 million on behalf of the fund’s parent company, Massachusetts Mutual Life Insurance Company (MassMutual) and have the ability to back an additional 15 to 20 companies in North America, Europe and Israel. It also brings MMV’s total capital under management to $450 million across the globe. MassMutual Ventures SEA, MMV’s Singapore-based team, invests across Southeast Asia and manages $150 million on behalf of MassMutual, with its most recent fund launch announced earlier this year.
“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,” said Doug Russell, Managing Director and Head of MassMutual Ventures. “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.”
MMV Managing Directors Eric Emmons and Mark Goodman have led the Boston-based team’s investment efforts since MMV’s inception and Principal Chuck Svirk joined the team shortly thereafter. They will continue to manage the $300 million fund family.
“We appreciate this continuation of MassMutual’s strong LP commitment to early- and growth-stage venture capital,” said Emmons. “This new fund gives MMV the opportunity to back a new cohort of entrepreneurs in North America, Europe and Israel as these teams set out to build and expand category-defining businesses.”
“MMV is a long-term investor with a practice of supporting our portfolio companies as they grow,” noted Goodman. “In addition to providing initial and follow-on financial investment capital, MMV materially helps our founders by making strategic introductions across the financial services sector. MMV’s active and ongoing participation in the entrepreneurial marketplace allows our parent company and portfolio companies to collaborate, create strategic partnerships, and share valuable insights.”
“MMV’s investment sectors continue to be resilient despite the COVID-19 pandemic and the resulting economic uncertainty,” added Svirk. “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.”
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About MassMutual Ventures Holding
MassMutual Ventures Holding (MMV Holding) is the corporate venture capital holding company of Massachusetts Mutual Life Insurance Company (MassMutual), a FORTUNE 500® company1. MMV Holding manages US$450M through MassMutual Ventures, a US $300M Boston MA-based team investing in North America, Europe and Israel, and MassMutual Ventures SEA, a US $150M Singapore-based team investing across Southeast Asia. Both teams invest in early- and growth-stage companies in the financial technology, cybersecurity, enterprise software, and digital health sectors. MMV Holding is also a significant investor in Crane Venture Partners, a London-based venture capital firm focused on early-stage enterprise start-ups in Europe. MMV Holding also has a strategic partnership with Crane. For more information, visit: https://www.massmutualventures.com/.
1 FORTUNE and FORTUNE 500 are registered trademarks of Time Inc. and are used under license. From FORTUNE Magazine, June 1, 2019. ©2019 Time Inc. Used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of MassMutual.