Northwestern Mutual announces new $150 million fund to invest in startups

Northwestern Mutual announced a new $150 million investment to support startups via Northwestern Mutual Future Ventures, which will expand the company’s total venture capital allocation to $350 million.

The $150 million infusion to NMFV – known as Fund III – will target emerging and growth-stage firms in the fintech and insurtech space. Fund III will also provide follow-on capital to propel portfolio companies through scaling and marketing expansion.

Since its inception in 2017 with a $50 million Fund I, NMFV has invested in more than 50 companies. In 2019, it launched Fund II, a $150 million vehicle with additional reserve capital, to enable strategic follow‑on support. NMFV pairs capital with strategic partnership, accelerating portfolio growth and, in some cases, enabling pilots and deployments of solutions within Northwestern Mutual.

“This renewed commitment reinforces our belief in the power of innovation, and the exciting startups helping to transform how Americans achieve financial security. The funds expand our ability to partner with high-growth companies, delivering technology, collaboration, and value to our more than five million clients and our nationwide network of trusted financial professionals.” – Michael Sias, vice president – corporate development and venture, Northwestern Mutual.