Northwestern Mutual is committed to allocating $20 million of its corporate venture capital dollars towards startups founded by women, the financial services and life insurance company said Thursday.
In May, Northwestern Mutual launched a second corporate venture capital fund of $150 million. Future Ventures Fund II is an extension of the Future Ventures Fund I, the company’s $50 million corporate venture capital fund that launched in 2017. Through the Future Ventures Fund, the company has invested more than $50 million across 18 companies.
In August, the company participated in a $33 million funding round for a Japanese diagnostics company.
Northwestern Mutual, the largest privately held company based in Wisconsin with $28.5 billion in revenue, tripled the size of the first corporate fund to capture more opportunities emerging in the market. Deals from Future Ventures Fund II will range from $500,000 to $5 million and will typically begin in Series A or B funding rounds, for which Northwestern Mutual could be the lead investor. Read the full story here.