The capital boost follows the CVC benefitting from the exit of fintech company Chime, which listed on the stock exchange in June 2025
US insurance company Northwestern Mutual has increased the size of its corporate venture capital fund to $350m from $200m as it seeks to boost investments in fintech and insurtech startups.
The additional $150m – known as Fund III – will be used to target emerging and growth-stage startups.
Since its inception in 2016 with a $50 million Fund I, Northwestern Mutual Future Ventures (NWFV) has invested in more than 50 companies. In 2019, it launched Fund II, a $150 million fund with additional reserve capital, to make follow‑on investments.
Last August the fund saw the departure of managing director Craig Schedler who had led the unit since it was founded, but the new tranche of funding indicates that corporate support for the unit is still strong.
NWFV pairs capital with strategic partnerships with the parent company, enabling pilots and deployments of technologies in Northwestern Mutual. Last year the fund realised returns from its 2017 investment in fintech company Chime, which listed on Nasdaq at a valuation of approximately $11.6bn.
Recent investments include Levitate, a customer relationship services provider, and Letter AI, a software providing personalised sales training, coaching, and content management.
See all the recent Northwestern Mutual-backed startup deals the CVC Funding Round Database
