MassMutual launches new $100m venture capital fund

MassMutual Ventures Holding (MMV), the corporate venture capital holding company of Massachusetts Mutual Life Insurance Company, has launched a $100 million venture capital fund.

The Boston-based fund brings MMV’s total capital under management to $450 million. The fund will invest in early- and growth-stage companies in the financial technology, cybersecurity, enterprise software, and digital health sectors.

With this new fund, the Boston-based team will manage a total of $300 million on behalf of the fund’s parent company and have the ability to back an additional 15 to 20 companies in North America, Europe and Israel.

“Direct investment strategies like MMV have demonstrated that MassMutual can profitably invest in innovative businesses that are creating meaningful change in the markets in which MassMutual and its subsidiaries operate,” said Doug Russell, managing director and head of MassMutual Ventures. “Since 2014, MMV has backed nearly 40 startup companies around the world. This additional capital for our U.S.-based fund represents a real opportunity to expand upon the success that the MMV fund family has realized over the past six years.”

MMV managing director Eric Emmons commented: “We appreciate this continuation of MassMutual’s strong LP commitment to early- and growth-stage venture capital. This new fund gives MMV the opportunity to back a new cohort of entrepreneurs in North America, Europe and Israel as these teams set out to build and expand category-defining businesses.”