CNA Financial, NN Group and an unnamed insurance provider have supplied $75m for MTech's InsureTech fund, which has targeted a $150m close.
UK-based venture capital firm MTech Capital reached the first close of an insurance fund yesterday with $75m from corporates including financial services firm CNA Financial Corporation and insurance and financial group NN Group.
CNA and NN were joined by an undisclosed “top-three” insurance firm as anchor investors in the InsureTech fund, and MTech intends to secure additional insurance providers as limited partners on the way to a $150m final close in the next year.
InsureTech, which has offices in London…
