Northwestern Mutual has launched another corporate venture capital fund, this one reaching $150 million, continuing on the Milwaukee-based financial and insurance services giant’s pledge to remain focused on strategic innovation.

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 Future Ventures Fund I, the company has invested $43 million across 14 companies. Most recently, Northwestern Mutual used money from the fund to participate in a $45 million round for OJO Labs Inc., an Austin, Texas, company that uses artificial intelligence to communicate with consumers about real estate properties.

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, said Craig Schedler, venture partner with Northwestern Mutual Future Ventures. 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, Schedler said.

The investments will focus on companies innovating in financial technology and how modern consumers engage with finances in the digital age, digital health, client experience and data analytics. Companies that received funding from Future Ventures Fund I could receive follow-on capital through Future Ventures Fund II, Schedler said. Read the full story here.