US insurance giant launches $50m Southeast Asia venture fund

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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.

The Massachusetts Mutual Life Insurance Company today unveiled MassMutual Ventures Southeast Asia (MMV SEA), the regional arm of its VC unit MassMutual Ventures.

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.

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