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Corporate Venture
munichre.com/mrv/en.html

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Investments

75

Portfolio Exits

9

Funds

1

Service Providers

1

About Munich Re Ventures

Munich Re Ventures is the corporate strategic venture arm of Munich Re Group. Munich Re Ventures seeks to discover and invest in companies across a broad range of industries, including: IoT, mobility, digital health, geospatial, deep tech, cyber, InsurTech, AI/ML. The fund is stage agnostic and makes strategic investments from early to late stage, depending on the stage of the opportunity and the company's need for capital. Successful deals are guided by a meaningful deal thesis that are tied to firm's overall growth strategy.

Headquarters Location

2 Embarcadero Center

San Francisco, California, 94111,

United States

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Expert Collections containing Munich Re Ventures

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Munich Re Ventures in 1 Expert Collection, including Insurtech.

I

Insurtech

61 items

Latest Munich Re Ventures News

Oshri Kaplan, Munich Re Ventures: DI M&A VC Roundtable

Nov 17, 2022

What’s the overall health of the insurtech market? Oshri Kaplan, Munich Re Ventures On one hand, Covid was a forcing function for digital transformation for the industry, pushing both incumbents and MGAs to expedite their digital growth plans. On the other hand, many newly-listed insurtech startups experienced significant volatility in the public markets, with share price drops of over 75%, which creates a level of uncertainty for other private insurtechs, specifically later stage ones. Longer term, as companies continue to focus on profitable unit economics, the overcorrection we're seeing in the public markets today will likely reset. What’s your view of the insurtech startup market and what it has in store for 2023? While we have seen a major trickle-down effect from public market performance to late stage insurtech investments, we continue to see strong traction in the early stage as incumbents adopt and work more tightly with those players. We expect 2023 to be a strong year for insurtech enablers. These players will continue to build solutions across the entire value chain, from broker automation workflow tools to digital TPAs and insurance payments solutions. Similar to the last couple of years, we expect embedded insurance to remain a driving force for the industry, with players building solutions horizontally creating the infrastructure of the embedded ecosystem, as well as vertically-tailored solutions to tackle specific and nuanced industries. TRENDING How might insurtechs disrupt the insurance market in the future? The insurance market is large, and we don't see insurtechs as disrupting the market entirely -- rather evolving it. That said, we see a new wave of digital marketplaces for insurance distribution and placement of risk both on the primary and reinsurance side. These marketplaces, whose popularity is partly driven by the hardening insurance market, are looking to scale their operations and connect risk to outside capital in a way that has not been done before: by digitizing the placement of risk and the data sharing process. Why has insurtech M&A cooled and will it stay that way? As mentioned, the volatility in public markets has influenced insurtech private markets, from milestone and unit economics expectations, to valuations and multiples. Similar to other industries, public company multiples are typically used as comps in acquisitions – and these comps are currently unstable. As a result, insurtech startups are deciding to remain private longer and delay their exit strategy. For those that are flush with cash or have the ability to raise cash, they can use this time to shore up their economics and await a rebound in prices. While many companies are currently in this holding pattern, others may be more cash constrained. We anticipate M&A conversations will resurface. Will insurtech funding remain strong? We expect early-stage investing will continue to remain strong next year as it is the least affected by public markets. In prior years, we observed that some later stage companies who had plenty of capital runway would still ride the momentum of the market and raise additional funding to expedite their growth plans. We saw less of that in 2022, with investors and entrepreneurs both observing the multiples correction and waiting for the public market to stabilize before hitting the growth capital button. We expect more clarity and stabilization in the public market next year and all stages of insurtech investing to pick back up. At the same time, the entire value chain of insurance incumbents are looking to innovate and improve their internal technology stack by investing and partnering with enabling technologies in the ecosystem. For example, we are seeing partnerships on improving broker interfaces to place risk, payments reconciliation tools for carriers and reinsurers, and API solutions to plug into insurance products. Overall, we are seeing innovation in this market being driven not only by VC investments, but also by other players in the insurance value chain.

Munich Re Ventures Investments

75 Investments

Munich Re Ventures has made 75 investments. Their latest investment was in ShipIn as part of their Series A - II on October 10, 2022.

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Munich Re Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/19/2022

Series A - II

ShipIn

$24M

No

6

10/3/2022

Series A - III

Amplify Life Insurance

No

2

8/26/2022

Series A

Zanskar

$12M

Yes

2

8/4/2022

Seed VC

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$99M

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10

6/24/2022

Series A - II

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$99M

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10

Date

10/19/2022

10/3/2022

8/26/2022

8/4/2022

6/24/2022

Round

Series A - II

Series A - III

Series A

Seed VC

Series A - II

Company

ShipIn

Amplify Life Insurance

Zanskar

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Amount

$24M

$12M

$99M

$99M

New?

No

No

Yes

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Co-Investors

Sources

6

2

2

10

10

Munich Re Ventures Portfolio Exits

9 Portfolio Exits

Munich Re Ventures has 9 portfolio exits. Their latest portfolio exit was We Predict on June 08, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/8/2022

Acquired

$99M

1

3/22/2022

Reverse Merger

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$99M

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10

2/23/2022

Acquired

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$99M

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10

10/22/2021

Reverse Merger

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$99M

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10

10/21/2021

Acquired

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$99M

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10

Date

6/8/2022

3/22/2022

2/23/2022

10/22/2021

10/21/2021

Exit

Acquired

Reverse Merger

Acquired

Reverse Merger

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

10

Munich Re Ventures Acquisitions

1 Acquisition

Munich Re Ventures acquired 1 company. Their latest acquisition was GroupHEALTH Benefit Solutions on March 04, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/4/2021

$99M

Acq - Fin

3

Date

3/4/2021

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acq - Fin

Sources

3

Munich Re Ventures Fund History

1 Fund History

Munich Re Ventures has 1 fund, including Munich Re Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/12/2021

Munich Re Fund II

$500M

1

Closing Date

10/12/2021

Fund

Munich Re Fund II

Fund Type

Status

Amount

$500M

Sources

1

Munich Re Ventures Service Providers

1 Service Provider

Munich Re Ventures has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Series D

Other

General Counsel

Service Provider

Associated Rounds

Series D

Provider Type

Other

Service Type

General Counsel

Partnership data by VentureSource

Munich Re Ventures Team

2 Team Members

Munich Re Ventures has 2 team members, including current Managing General Partner, Jacqueline LeSage Krause.

Name

Work History

Title

Status

Jacqueline LeSage Krause

The Hartford, Hartford Ventures, and Kearney

Managing General Partner

Current

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Name

Jacqueline LeSage Krause

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Work History

The Hartford, Hartford Ventures, and Kearney

Title

Managing General Partner

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Status

Current

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