26 July 2017Insurance

Aquiline Capital closes $190m for insurtech fund

New York-based private equity firm Aquiline Capital Partners has secured approximately $190 million in total capital commitments for its new fintech fund.

Aquiline Technology Growth Fund (ATG) invests in insurance technology and services companies. Insurtech has emerged as one of the fastest-growing areas of investment within financial technology.

In addition to ATG, Aquiline manages three financial services funds and has raised over $6.5 billion of capital through its affiliated funds and co-investments.

"Given that technology is driving rapid change in the financial services sector, Aquiline has increasingly focused on fintech as an attractive investment area," said Jeff Greenberg, chairman and chief executive of Aquiline. "ATG is a natural extension of that effort."

"The fund represents a key piece in the evolution of Aquiline’s end-to-end offering, allowing our firm to now support early, growth-stage and middle-market companies within the financial services sector."

Max Chee, who leads Aquiline Technology Growth, commented: "There are significant opportunities in financial services with technology impacting every aspect of the value chain for consumers and businesses.

"As every sector of the economy becomes digitized, the insurance industry, in particular, is an area that will be profoundly impacted by technology over the next decade. It’s also an area where Aquiline’s deep expertise and expansive network of industry and investor relationships provides ATG with a distinct advantage. We look forward to working with entrepreneurs and fellow institutional and corporate venture capitalists in building exciting new companies."

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