Transverse reveals new carrier-backed insurtech venture capital fund

Transverse Insurance Group, a property and casualty (P&C) programme carrier launched in 2018, has disclosed the final closing of Transverse Ventures Fund I, a new venture capital fund chiefly focused on making early-stage investments in insurance and adjacent technologies impacting the industry.

The new venture capital fund leverages the infrastructure and team of  Transverse. It is supported by multiple strategic limited partners including insurance carriers and executives.

“We built  Transverse to be the ideal partner for sophisticated MGAs as well as other leading origination, underwriting, and technology platforms. We are excited to leverage the capabilities of a modern programme carrier as well as the insurance expertise represented by our team,” said Dave Paulsson (pictured), co-managing partner of  Transverse Ventures.

Co-managing partner Erik Matson added: “As a venture capital fund backed by a programme carrier, we have a rare ability to drive value creation in portfolio companies spanning the time from initial investment through significant evolutionary growth.”

Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.