The insurance firm's Liberty Mutual Strategic Ventures unit will target technologies compatible to its industry, and its first portfolio company is smart lock developer August Home.
US-based insurance firm Liberty Mutual launched a $150m corporate venturing fund yesterday that will invest in early-stage companies developing technologies and services relevant to the insurance industry.
Liberty Mutual Strategic Ventures will form part of the company’s personal insurance division, Liberty Mutual Global Consumer Markets, and will target areas including the connected home, next-generation vehicles and the sharing economy.
The unit will typically invest between $1m and $5m at a time and will aim to co-invest with “a strong VC…
