Northwestern Mutual is setting aside $150 million for a second venture fund.
“We’re committed to transforming the client experience to drive change within the financial services industry,” said Souheil Badran, executive vice president and chief innovation officer, in a statement. “This additional capital will allow us to build on the success of Northwestern Mutual Future Ventures and invest in new technologies that have the ability to accelerate growth and advance innovation so we can create what’s next for our clients, financial representatives and employees.”
Criteria for the fund won’t change. It will still invest between $500,000 and $5 million ins Series A or B stage deals focused on technologies that can address changing customer preferences; new user experiences for the insurance industry and consumers; digital