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KUALA LUMPUR: Venture capital MassMutual Ventures (MMV) has set up a US $ 50mil fund to invest in 10 to 15 start-up companies throughout Southeast Asia (Asean) over the next three years.
The MassMutual Ventures Southeast Asia (MMV SEA) is based in Singapore, is targeting Series A and Series B round investments in digital health, fintech, insurtech and enterprise software, MMV says in a statement on Wednesday.
MMV SEA's funding is being provided by the Massachusetts Mutual Life Insurance Company (MassMutual).
MMV is a new venture capital fund, which is currently under management in North America, Europe, Israel and Southeast Asia – to US $ 250mil.
MMV SEA will also work with MassMutual International – its parent insurance company – and leverage its relations in the region, to identify potential investments and opportunities for MMV's portfolio companies.
MMV Managing Director Doug Russell said this new fund underscores its commitment to a global global MassMutual Ventures platform.
The new fund will identify successful start-up companies that align with MassMutual's prudent investment strategy, providing the best returns for our company, said Russell, who will oversee MMV Asean operations.
MassMutual Ventures (MMV) is a North America, Europe, Israel and Southeast Asia.
Its key areas of investment focus include fintech, insurtech, cybersecurity, data analytics, digital health and enterprise software.
Today, MassMutual Ventures households US $ 250mil across two funds – Boston-based MMV and MMV SEA, headquartered in Singapore.
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