Based in Silicon Valley, Tokio Marine Future Fund will be an inaugural corporate venture capital (CVC) fund that will deploy venture capital thematically in sectors including insurtech, fintech, mobility, healthcare healthcare, cybersecurity, AI/ML, climate risk and sustainability.
The fund will invest in seed and Series A companies in North America, Europe, Latin America, Africa and Asia; the fund aims to generate strategic value and deploy enterprise network resources to strengthen early-stage portfolio investments
PALO ALTO, Calif., April 20, 2022–(BUSINESS WIRE)–Tokio Marine Holdings, Inc., a multinational insurance holding company with $45 billion in global premiums across all major lines of P&C, life and health insurance globally, has today announced the launch of Tokio Marine Future Fund, a Silicon Valley-based corporate venture capital fund. Tokio Marine has committed $42 million to the initial fund with plans to deploy more capital in subsequent fund rounds.
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Steve Pretre, Partner, World Innovation Lab (Photo: Business Wire)
Tokio Marine Future Fund will focus on early-stage investments in seed-stage companies through to Series A companies in a wide range of markets – including insurtech, fintech, mobility, healthcare, cybersecurity, AI/automation and climate risk – with check sizes ranging from $500,000 to $3 million. The new venture capital investments will extend Tokio Marine’s commitment to supporting startup innovation.
Tokio Marine already operates innovation labs in Silicon Valley, New York, London, Singapore, Sao Paulo, Taipei and Tokyo, aiming to drive the adoption of new technologies across its operating companies in worldwide.
Tokio Marine Future Fund has partnered with World Innovation Lab (WiL), a venture capital firm based in Silicon Valley and Japan, to pilot a targeted and efficient investment process. Tokio Marine is a key LP in WiL’s growth funds, which focus on Series B and later startups across a wide range of industries.
“The global investment opportunity for innovative start-ups in the United States and emerging markets is immense,” said Yoshi Yoshida of Tokio Marine Future Fund. “Tokio Marine’s global presence gives us the ability to help accelerate the growth of startups by tackling new opportunities in insurance, fintech and a range of adjacent sectors. We are excited to help empower a new generation of entrepreneurs.
Tokio Marine Future Fund has made several seed investments to date, including:
Carefull, a financial care platform offering smart financial account protections, credit, identity and bill monitoring, and everyday money organization.
Nirvana, rebuilding commercial insurance for fleets and transportation from the ground up.
Titaniam, a data protection platform providing in-use encryption to ensure that even if attackers enter, they cannot leave with valuable data.
TrustLayer, an insurtech company automating insurance verification through machine learning and AI.
Voxel, a computer vision-powered real-time risk identification platform that enables existing security cameras to automatically identify hazards and high-risk activities in real time, keeping employees safe and improving operational efficiency.
Strategic value generator based on vertical expertise in insurtech, fintech and beyond
The Tokio Marine Future Fund team is focused on making quick investment decisions. After the initial investment, the team is positioned to drive strategic value for its portfolio companies, whether as a customer, capability provider, or driving adoption of portfolio products within its customer base . Investment areas will include insurtech, fintech and related businesses, including mobility, healthcare, cyber risk, AI/ML, climate risk and sustainability.
World Innovation Lab will feed into the investment strategy. The company will act as a CVC fund manager led by Steve Pretre, who manages the World Innovation Lab’s investments in the fintech and insurtech sectors. Pretre brings decades of operational experience across various startup industries, with a focus on the insurtech space within the early leadership teams of Risk Management Solutions (RMS), one of the premier capital-backed insurtech startups. -risk. Steve also worked at Asurion before co-founding and serving as the first CEO of Metromile, after which he transitioned into venture capital investing.
The Tokio Marine Future Fund team includes more than 10 partners and members in all areas of investment strategy and business development.
About the Tokio Marine Future Fund
Tokio Marine Future Fund is the CVC arm of Silicon Valley-based Tokio Marine, a multinational insurance holding company with $45 billion in global premiums across all major lines of P&C, life and health insurance. Founded in October 2021, the fund focuses on early-stage investments in early-stage companies through Series A companies across a wide range of markets, including insurtech, fintech, mobility, healthcare healthcare, cybersecurity, AI/automation and climate risk. For more information on Tokio Marine Future Fund, please visit tmfuturefund.com.
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