MassMutual Ventures has launched a new $100 million venture capital fund that will focus on investing in early and growth-stage companies in various fields including financial technology, cybersecurity, enterprise software, and digital health sectors. The latest fund marks the third $100 million dollar fund to be managed by the Boston-based team of MassMutual Ventures on behalf of its parent company, the Massachusetts Mutual Life Insurance Company (MassMutual).
The $300 million MMV fund family will continue to be overseen by Managing Directors Eric Emmons and Mark Goodman who have led the investment efforts since MMV’s inception and Principal Chuck Svirk joined the team shortly thereafter.
“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.”
“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.”
With this new infusion of cash, the Boston-based team now has the ability to invest and back an additional 15 to 20 companies in North America, Europe, and Israel. The VC team controls a total of $450 million worldwide with the inclusion of MassMutual Ventures SEA, MMV’s Singapore-based team. That team manages approximately $150 million on behalf of MassMutual in investments spanning Southeast Asia.
