The reinsurance provider's corporate venturing arm is bolstering its portfolio development activities alongside the launch of its latest fund.
Munich Re Ventures, the corporate venturing subsidiary of Germany-headquartered reinsurance group Munich Re, closed its second fund at $500m yesterday.
The close of Munich Re Fund II means the unit now has over $1bn of assets under management. It targets investments in developers of insurance, healthcare, transport, cybersecurity, climate, commercial and industrial equipment technology.
The second fund will allow Munich Re Ventures to strengthen the portfolio development platform it set up to connect portfolio companies to executives at Munich Re and its partners. It will also extend the range of companies it backs.
Jacqueline LeSage, Munich Re Ventures’ managing director, said: “Munich Re Ventures has deep connectivity within Munich Re and the insurance industry to help our portfolio companies accelerate their businesses. We will now expand our appetite to invest in companies where the strategic relevance is further out on the horizon.
“As a result, Munich Re Ventures will be…
