MassMutual Ventures and Crane Venture Partners announce expanded partnership

MassMutual Ventures (MMV) and Crane Venture Partners have entered into an agreement for Crane to administer MMV’s Europe and Asia-Pacific (APAC) funds, totaling $450 million and including 40 portfolio companies. MassMutual Ventures has been a minority investor in Crane since 2018 as well as an anchor investor in all Crane funds.

“This agreement marks the next evolution in MassMutual Ventures’ longstanding relationship with the Crane team that was established seven years ago. Crane’s unwavering focus on founders and vast network and expertise will be invaluable for both current and future portfolio companies in Europe and APAC. We look forward to continuing to work with Crane in this new capacity, leveraging the strengths and capabilities of both of our organizations.” – Doug Russell, Managing Director and Head of MassMutual Ventures.

MMV will continue to manage its existing portfolio of over 60 companies based in North America and Israel and invest in new companies through its Boston-based MMV US and MMV Climate Tech Fund teams.

“We’ve always believed that early conviction and long-term commitment are the keys to venture success. This expanded partnership is a massive vote of confidence in our approach—and in the founders we have and will continue to back. We’re proud to take the next step with MassMutual Ventures and build an even stronger bridge for global ambition across Europe and Asia-Pacific.” – Krishna Visvanathan, Co-founder and Partner at Crane.

As part of the transaction, which is expected to close later this year pending satisfactory completion of customary conditions, Crane Venture Partners will oversee all existing Europe and APAC investments as well as manage all new Europe and APAC investments, with MMV continuing to hold positions in all existing portfolio companies.