IA Capital Group Raises $150M for Insurtech VC
IA Capital Group has announced it has raised $150m across three funds:
- Inter-Atlantic Stonybrook Insurtech Ventures, a multi-LP fund, focusing on property/casualty insurtech
- Inter-Atlantic G Fund, a single-LP fund, focusing on life/annuity/retirement insurtech
- Inter-Atlantic Ivy, a single-LP fund, focusing on later-stage opportunities in insurtech and fintech
The three funds represent the firm’s sixth, seventh and eighth investment vehicles. With seven current funds/managed accounts plus its fully-exited first fund, IA Capital is the longest-tenured and most experienced firm with a primary focus on insurtech. The firm oversees venture capital investments on behalf of a variety of institutions including 13 insurers that have a strategic interest in insurtech. These 13 insurance companies represent nearly all sectors of insurance including property/casualty, life, mortgage, and financial guaranty.
“Our insurance company investors benefit from our cornerstone focus on financial returns coupled with strategic insight into insurtech. Our entrepreneurs appreciate working with a financially-motivated independent VC firm while capitalizing on strategic connections into our insurance company partners.” – Andrew Lerner, the Managing Partner of IA Capital.
IA Capital limits its investment activities to North American post-revenue companies, with a preference for Series A, B, and C funding rounds. Occasionally, the firm launches and incubates its own startup company.
Recent IA Capital investments include:
- Led Authentic4D Series A
- Co-led Protecht dba TicketGuardian Series A
- Led Compstak Series B Clearcover Series B
- Incubated Boost Insurance
- Led SmartAsset Series B
- Led Sure Series A Advizr Series A
- Led Wellthie Series A Co-led Snapsheet Series C
- Led Marqeta Series C
- Led Credit Sesame Series D
Stonybrook Capital acted as placement agent to Inter-Atlantic Stonybrook Insurtech Ventures.