The insurance firm's corporate venturing unit has admitted external limited partners for its AFV Fund III, which just closed at $213m.
American Family Ventures, the strategic investment arm of US-based insurance group American Family, has closed a $213m third fund after collecting capital from multiple limited partners (LPs).
Founded in 2013, American Family Ventures typically invests $250,000 to $5m in seed to series B-stage deals, backing developers of financial, cybersecurity, data analytics and internet-of-things technology.
The unit has so far allocated a total of $172m to 65 companies including home equity investment platform Hometap, automotive insurance marketplace Clearcover and…
