HomeItalyGenerali Ventures Commits € 250M to Initiatives With High Growth Potential

Generali Ventures Commits € 250M to Initiatives With High Growth Potential

Generali Ventures, the venture capital arm of insurance giant Generali, has committed € 250m to initiatives with high growth potential.

Launched in 2022 to accelerate innovation, enter new markets and generate additional operating efficiencies for the Group, Generali Ventures aims to identify the most promising investment opportunities, with a particular focus on the insurtech and fintech sectors.

The search for external innovation spans a broad spectrum of technologies that are revolutionising the insurance industry, including areas such as mobility, artificial intelligence, cyber security and healthcare. Investment targets include innovative startups, both pre-seed and late stage, with a geographic focus extending to VC funds in Europe and the United States.

After an in-depth analysis of over 100 venture capital funds, the arm has invested in three strategic initiatives:

  • Mundi Ventures, specialized in insurtech technologies;
  • Speedinvest, focused on startups in the early pre-seed and seed stages; and
  • Dawn, which is focused on investing in B2B software solutions.

Generali Ventures is part of the “Lifetime Partner 24: Driving Growth” strategic plan, which includes €1.1 billion of cumulative investments in the digital and technological transformation of the Group.

Commenting on the launch of the initiative Bruno Scaroni, Group Chief Transformation Officer of Generali, said: “As set out in our ‘Lifetime Partner 24: Driving Growth’ strategic plan, Generali is an innovative customer-oriented Group, focused on the best possible use of data and emerging technology. Thanks to this new venture capital initiative, we will make long- term investments in the global innovation ecosystem. Generali Ventures will also have a positive impact on the insurance sector, boosting the development of innovative projects, opening up new opportunities for collaboration and integrating initiatives that contribute to the overall transformation of the Group.”

Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in over 50 countries in the world, with a total premium income of € 81.5 billion in 2022. With 82,000 employees serving 68 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America.

VCWire

31/10/2023