The insurance company will invest in local startups through the fund at the same time as it launches an accelerator.
US-based Massachusetts Mutual Life Insurance has launched a $5m corporate venturing fund that will invest in startups based in its home city of Springfield, Massachusetts.
In addition to the Springfield Venture Fund (SVF), MassMutual will also invest more than $1.5 million over the next three years in a new startup accelerator called Valley Venture Mentors (VVM).
Operating as a non-profit organisation that will provide mentoring and networking services for local startups, VVM will also invest more than $200,000 in the…
