Fund is based in Boston
Liberty Mutual Strategic Ventures (LMSV) has launched its second venture capital fund this month. Highlighting its ongoing focus on “innovation and strategic market investments,” LMSV is allocating approximately $200 million to support entrepreneurs in the property and casualty (P&C) insurance sector.
“In today’s dynamic risk environment, it’s even more critical to continue to support the entrepreneurial ecosystem,” said Liberty Mutual Insurance President & CEO Tim Sweeney. “Doing so allows us to develop a deep understanding of emerging risks and trends, find innovative solutions for our industry’s challenges and meet ever-changing customer needs. I’m proud of our continued investment in the future of insurance.”
The new fund follows LMSV’s initial $150 million fund, launched back in 2015, which has invested in insurtech companies such as August Home, Roadster, Turo, Snapsheet, and Roots Automation.
Russ MacTough, managing director of LMSV, emphasized the company’s decade-long presence in the insurtech market and its efforts to create mutual value for its portfolio companies and partners. “We’ve been in the insurtech market for almost 10 years now, supporting our portfolio companies and working tirelessly to create mutual value for them and our valued partners across Liberty Mutual. The continued financial support and strategic commitment of Liberty Mutual is a differentiator for LMSV and its portfolio companies.”
Strong partnerships are the foundation for learning and experimentation to build for the future
Nikhil Naikal, CEO and co-founder of Kinetic commented on his company’s partnership with Liberty Mutual, highlighting the valuable guidance and expertise provided by LMSV and Liberty Mutual’s Claims team. “Liberty Mutual has been a great partner for us,” said Naikal, “As an early-stage company, the guidance and expertise from LMSV and Liberty Mutual’s Claims team have given us a running start in the insurance vertical.”
The new second fund will target early-stage investment and partnership opportunities, complementing Liberty Mutual’s diverse, global insurance product portfolio. LMSV’s investment areas include AI, Data and Automation, Cybersecurity, Energy Transition, and Mobility.
