News Column

United States : MassMutual Establishes MassMutual Ventures LLC

July 25, 2014



Massachusetts Mutual Life Insurance Company (MassMutual) announced today the formation of MassMutual Ventures LLC (MMV), a $100 million corporate venture capital firm with the mandate to back startups and entrepreneurial businesses whose technologies have the potential to transform MassMutual s core insurance, retirement and asset management businesses.

MMV is managed by Doug Russell, MassMutual s Senior Vice President, Strategy and Corporate Development; Eric Emmons, who joins MMV after serving as the head of Siemens Venture Capital North America for the past five years, and Mark Goodman, who founded and managed two technology-focused venture capital funds, Terawatt Ventures and Brookline Ventures. MMV will manage its worldwide investments from its offices in Boston.

By actively investing in those businesses that are innovating and leading change in our industries, MassMutual will gain valuable insight into new technologies and business models that will ultimately benefit our policyowners and customers, said Russell. MMV enables MassMutual to build meaningful and long-term relationships with these potential business partners, and to keep abreast of the rapid technological changes affecting our industries.

MMV will focus on investments in financial technology, consumer internet, digital health and cybersecurity.

The insurance and investment services markets are on the cusp of significant technology-driven change, and MMV provides MassMutual an opportunity to help develop and implement new platforms and product offerings, said Emmons.


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Source: TendersInfo (India)


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