Tokio Marine launches CVC fund

Tokio Marine Holdings has launched Tokio Marine Future Fund, a $42 million corporate venture capital fund for investing in early-stage startups around the world.

The fund, which was launched in partnership with World Innovation Lab, will write checks worth between $500K and $3 million into seed, Series A rounds across sectors including insurtech, fintech, mobility, healthcare, cyber security, artificial intelligence, automation, and climate tech. WiL will act as the CVC fund manager led by Steve Pretre, who manages WiL’s investments across fintech and insurtech sectors. Pretre co-founded Metromile and was its CEO for nearly 3 years.

“There are often cases where Tokio Marine sees very promising companies or product ideas that are too early to support Tokio Marine as a customer. We don’t tie investments to an immediate strategic opportunity but want to help accelerate development either as an advisor or capacity provider with the hope that there is eventually an opportunity to partner strategically or become a customer as they progress.” – Yoshi Yoshida, deputy head of Digital Innovation at Tokio Marine.