MassMutual’s investment arm launches $100 million second fund for SEA

Fund to invest in health, fintech, and software sectors, as well as expand into neighbouring regions

MassMutual’s investment arm launches $100 million second fund for SEA

Insurance News

By Gabriel Olano

MassMutual Ventures (MMV) has announced the launch of its US$100 million second fund for Southeast Asia.

MMV is the venture capital arm of US-based insurer Massachusetts Mutual Life Insurance Company (MassMutual).

According to a company statement, the move brings its total capital under management to US$350 million across four funds – two US$100 million funds in the US and US$150 million in Southeast Asia across two funds. One year after establishing MassMutual Ventures Southeast Asia (MMV SEA), the Singapore-based team will continue to build on its successful strategy of investing in early- and growth-stage companies in the digital health, financial technology, and enterprise software sectors.

MMV SEA also said that aside from investing in companies in the Southeast Asia region, it will widen its investment reach by seeking opportunities in neighbouring markets such as Hong Kong, India, Australia, and New Zealand.

“We are excited to significantly expand our international presence with this second fund for MMV SEA,” said Doug Russell, managing director and head of MassMutual Ventures. “This additional capital will allow us to invest in more start-ups in the region that have the ability to generate positive returns for MassMutual.

“Furthermore, we can continue to build a truly global MMV platform, giving entrepreneurs access to significant networks and expertise, while providing MassMutual with valuable insights into new trends, technologies and solutions that are being developed around the world.”

MMV SEA also announced the hiring of Carlos Jo Loo as associate. Prior to joining MMV SEA, Loo was a senior associate at the Boston Consulting Group (BCG) SEA. During his time at BCG, he worked extensively with BCG Digital Ventures, where he co-founded two start-ups in the energy and industrials sectors.

Since it was established in 2014, MMV has backed nearly 40 companies in North America, Europe, Israel, and Southeast Asia. Seven of those companies are under MMV SEA’s current portfolio. According to MMV SEA, it works with other MassMutual entities in the region – leveraging their relationships to help portfolio companies identify potential opportunities for expansion and strategic partnerships.

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