Northwestern Mutual Life Insurance Co. Establishes Venture Fund to Invest in Start-Ups

Paul Gores reported last week at the Milwaukee Journal Sentinel that, “Northwestern Mutual Life Insurance Co. said Thursday it has established a $50 million venture fund to invest in start-up companies that are developing new financial technology and other innovations the company could offer to clients.

“Investments from the new Northwestern Mutual Future Ventures Fund — ranging between $500,000 and $3 million each — will develop tools to help accelerate digital technology and ‘create value for the company’s clients,’ Northwestern Mutual said. The plan is to invest the $50 million over the next five or six years.

“The company said the fund will focus on four priority investment areas: consumers’ changing preferences, ‘reimagining’ the client experience, the digital health revolution and transformational analytics and technologies.”

Mr. Gores added that, “The new Future Ventures Fund isn’t Northwestern Mutual’s first major commitment to technology. In 2015, the company acquired the online financial planning firm LearnVest Inc. Northwestern Mutual then used the know-how of LearnVest employees to develop a new online financial planning platform tailored to its clients.”

This entry was posted in Start-up Company Law. Bookmark the permalink. Both comments and trackbacks are currently closed.