MTech Capital has held the initial closing of the firm’s InsureTech venture fund with USD75 million of capital commitments from three anchor investors including CNA Financial Corporation, NN Group, and a top-3 global insurance company.
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.
MTech Capital’s founders believe the insurance industry is at the very beginning of a digital transformation and that it will be comprehensive. It will likely entail technology redefining the customer experience, automating many business processes, enabling deeper insight for more accurate insurance pricing and providing the foundation for entirely new models of insurance. As a result, over the next decade MTech Capital has an opportunity to generate attractive financial returns by executing its strategy on behalf of the Fund’s investors.
Kevin McLoughlin says: “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.”
