A 167 year-old US insurance company is getting in on Southeast Asia’s booming tech scene by launching its own venture capital fund in the region.
Launching with US$50 million in capital, MMV SEA expects to invest in 10 to 15 startups over the next three years. It’s mainly targeting tech companies that are raising their series A and B rounds in the financial services, insurance, healthcare, and enterprise software fields.
The fund’s initial US$50 million is provided out of MassMutual’s general investment account.
MMV SEA is based in Singapore and is led by managing directors Ryan Collins – previously head of Asia at Lab of Forward Thinking, insurance firm Manulife’s incubator – and Anvesh Ramineni, former head of investments at Openspace Ventures.