MTech Capital Completes Initial Closing of InsureTech Fund
MTech Capital has announced the initial closing of the firm’s insurtech venture fund with $75m of capital commitments from CNA, NN Group, and a top-3 global insurance company. It is looking to reach a $150m fund over the next 12 months.
MTech Capital is a venture capital firm with offices in Los Angeles and London, founded by Kevin McLoughlin and Brian McLoughlin. The firm is focused on technology-enabled investment opportunities with potential to transform the insurance industry.
“Insurance executives understand their industry is being transformed by technology and want to be in front of developments . Insurance companies are our investors and we look forward to welcoming more of them into our InsureTech Fund. Brian and I designed the Fund with their strategic goals in mind. Our ambition is to become the preeminent venture capital firm for InsureTech entrepreneurs globally” – Kevin McLoughlin.
Bottom Line: ManchesterStory Group comes to mind.