Montana Capital Partners buys Transamerica Ventures

Montana Capital Partners (mcp) is acquiring from Transamerica the venture assets of Transamerica Ventures, which consists of nearly twenty companies mainly active in the US.

The deal is structured as a spin-out of the previous management team of Transamerica Ventures who will continue to manage the underlying assets.

A newly built fund entity called HighScale Ventures Fund I was created by the Transamerica Ventures team, in order to acquire the current Transamerica Ventures Fund with the attractive underlying portfolio companies.

Transamerica Ventures was founded in 2014 to eventually become the $140 million venture arm of Transamerica. Portfolio companies include Policygenius, Quantemplate and Coverfox. It recently exited CipherCloud and Everplans following their acquisitions.

“We are very excited to partner with a reputable counterparty like Aegon on this transaction, having offered an innovative and highly customized solution tailored to the requirements of all parties. This transaction goes to the core of mcp’s strengths. Our long-standing experience in complex deal structuring, our team’s strong determination, drive and ability to find exceptional solutions, and our deep investment knowledge in this area have been the key success factors for this transaction. It has been a great pleasure to provide this solution to Aegon, and we look forward to successfully working together with the highly experienced team at HighScale Ventures.” – Christian Diller, Co-Founder and Managing Partner of mcp.

The successful signing of the Transamerica Ventures transaction is an important milestone in Aegon’s strategy to actively manage its portfolio of businesses. We are grateful for the support and trust of mcp who showed a high degree of flexibility in their solution provided to us. Furthermore, the deal secures the future of the management team and a continued relationship of Aegon to the portfolio companies.” – Tibor Leeuwenburgh, Global Head of Corporate Development at Aegon.

Bottom Line: One less insurer-backed VC.