Leading venture firm announces insurtech focused fund with backing from Aflac Global Ventures, Nürnberger, and Sumitomo Life. Industry veteran Kate Sampson joins the investment team.
NEW YORK, February 27, 2020 – Anthemis, a venture investment platform committed to cultivating change in financial services, announced the $90 million first close of its latest discretionary fund, Anthemis Insurance Venture Growth Fund I (AIVGF I). The fund is focused on venture growth companies driving significant impact within the insurance industry. Anthemis has secured backing from Aflac Global Ventures, Sumitomo Life and Nürnberger Versicherung in partnership with Daido Life Insurance Company. This move marks the extension of Anthemis’ expertise in pre-Seed and Series A to Series B and beyond.
For almost a decade, Anthemis has been solving the insurance industry’s most complex innovation problems from all sides of a robust ecosystem of startups and incumbents. With over half a billion in AUM, a third of its investments of 100+ portfolio companies, are addressing gaps in the insurance market, including mitigating risk, providing accurate and timely data. Its work with incumbent insurers to solve inefficiencies is a key differentiator for the company. Anthemis has been an active, thesis-driven investor, with investments dating back to insurtech category-creators such as the Climate Corporation in 2007, which sold to Monsanto in 2013. The firm subsequently invested in leading insurtechs such as Trov, Matic, Flock, and Hokodo.
“We are pleased to start this partnership with Anthemis by investing in Anthemis Insurance Venture Growth Fund I,” said Aflac Global Ventures President Nadeem Khan. Aflac Global Ventures partners with companies whose disruptive innovations in insurance, healthcare, finance, analytics, and other related fields align with Aflac’s strategic interests. Khan also added: “Anthemis has developed a strong investment track record, at the intersection of innovation and insurance. As we look ahead to the next wave of transformation, we are confident that Anthemis will continue to be at the forefront of the industry.”
Today, Anthemis also welcomed the arrival of insurance veteran Kate Sampson, as Managing Director. Prior to joining Anthemis, Kate served as the Vice President of Risk Solutions at Lyft and in various leadership roles at Marsh & McLennan. During her tenure at Marsh, Kate developed the first-of-its-kind insurance for Transportation Network Companies. At Lyft, Kate grew the in-house insurance operation to a ~$1B insurance company in 4 years, including a full-stack tech team, claims, actuaries and operations. Kate is a notable industry expert and advisor working with disruptive startups, taking them from early-stage to venture growth.
“Having worked with high-growth startups and incumbents, I have seen first-hand how an organization like Anthemis can bring an incredible amount of value and shape the future of insurance,” said Kate Sampson. She continued, “The firm’s commitment to authentic collaboration and investing in diverse talent is an important part of what makes Anthemis special, and certainly makes this the perfect next step for me. I’m excited for what is ahead.”
Anthemis Founder and Chief Investment Officer Sean Park said, “This is a huge milestone for Anthemis as we approach the close of our first decade as a business.” He added, “Insurance and risk management will propel much of the true transformation we see in financial services. With the maturation of our portfolio companies and the industry more broadly, it is a natural evolution for us to be active participants in the venture growth space. I’m very proud of the team that we have assembled and look forward to our next chapter.”
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Anthemis cultivates change in financial services by investing in, growing and sustaining businesses committed to improving the world. We are founded on three guiding principles — authentic collaboration, virtuous cycle outcomes, and diversity and inclusivity — and our deep understanding of markets and models, passion for emerging technology and values inspire everything we do. By creating fertile ground for a diverse group of startups, investors, entrepreneurs, institutions, academics and visionaries to converge, we believe we can solve the financial services world’s most pressing challenges faster, better and for the benefit of all.