Headquartered in Silicon Valley, Tokio Marine Future Fund will be an inaugural Corporate Venture Capital (CVC) fund that will deploy venture capital thematically across sectors including insurtech, fintech, mobility, health care, cybersecurity, AI/ML, climate risk and sustainability
The fund will invest in seed and Series A stage companies across North America, Europe, Latin America, Africa and Asia; the fund aims to drive strategic value and deploy corporate network resources to empower early-stage portfolio investments
PALO ALTO, Calif., April 20, 2022–(BUSINESS WIRE)–Tokio Marine Holdings, Inc., a multinational insurance holding company with $45 billion in global premiums across all major lines of property and casualty, life and health insurance globally, today announced the launch of Tokio Marine Future Fund, a Silicon Valley-headquartered corporate venture capital fund. Tokio Marine has committed $42 million to the initial fund with plans to deploy more capital into subsequent fund cycles.
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Steve Pretre, Partner, World Innovation Lab (Photo: Business Wire)
Tokio Marine Future Fund will focus on early-stage investments in seed-stage through Series A companies in a broad range of markets — including insurtech, fintech, mobility, health care, cybersecurity, AI/automation and climate risk — with check sizes ranging from $500,000 to $3 million. The new venture investments will extend Tokio Marine’s commitment to supporting startup innovation.
Tokio Marine already operates Innovation Labs in Silicon Valley, New York, London, Singapore, Sao Paulo, Taipei and Tokyo, aimed at driving the adoption of new technologies in its operating companies across the globe.
Tokio Marine Future Fund has partnered with World Innovation Lab (WiL), a Silicon Valley and Japan-based venture firm, to drive a focused and efficient investment process. Tokio Marine is a key LP in WiL’s growth funds, which focus on Series B and later startups across a broad range of sectors.
“The global investment opportunity for early-stage innovative startups in the United States and emerging markets is immense,” said Yoshi Yoshida at Tokio Marine Future Fund. “Tokio Marine’s global presence gives us the ability to help accelerate the growth of startups tackling new opportunities across insurance, fintech and a range of adjacent sectors. We are excited to help empower a new generation of entrepreneurs.”
Tokio Marine Future Fund has made several early-stage investments to date, including:
Carefull, a financial caregiving platform providing smart financial account protections, credit, identity and bill monitoring, plus daily money organization.
Nirvana, rebuilding commercial insurance for fleets and transportation from the ground up.
Titaniam, a data protection platform delivering encryption-in-use to ensure that even if attackers get in, they cannot leave with valuable data.
TrustLayer, an insurtech company automating insurance verification with machine learning and AI.
Voxel, a real-time risk identification platform powered by computer vision that enables existing security cameras to automatically identify hazards and high-risk activities in real-time, keeping employees safe and driving operational efficiencies.
Strategic Value Driver Based on Vertical Expertise Across Insurtech, Fintech and Beyond
The Tokio Marine Future Fund team focuses on driving fast investment decisions. After the initial investment, the team is positioned to drive strategic value for its portfolio companies, whether as a customer, a capacity provider or by driving the adoption of portfolio products within its customer base. Areas of investment will include insurtech, fintech and related adjacencies, including mobility, health care, cyber risk, AI/ML, and climate risk and sustainability.
World Innovation Lab will power the investment strategy. The firm will act as the CVC fund manager led by Steve Pretre, who manages World Innovation Lab’s investments across the fintech and insurtech sectors. Pretre brings decades of operating experience across a variety of startup sectors, with a focus on the insurtech space as part of the early executive teams at Risk Management Solutions (RMS), one of the first venture-backed insurtech startups. Steve also worked at Asurion before co-founding and serving as the early CEO at Metromile, after which he made his transition to venture investments.
The Tokio Marine Future Fund team includes more than 10 partners and members across the spectrum of investment strategy and business development.
About Tokio Marine Future Fund
Tokio Marine Future Fund is the Silicon Valley-headquartered CVC arm of Tokio Marine, a multinational insurance holding company with $45 billion in global premiums across all major lines of property and casualty, life and health insurance. Founded in October 2021, the fund is focused on early-stage investments in seed-stage through Series A companies across a broad range of markets, including insurtech, fintech, mobility, health care, cybersecurity, AI/automation and climate risk. For more information on Tokio Marine Future Fund, please visit tmfuturefund.com.
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