Northwestern Mutual Announces $150 Million Venture Capital Commitment
Northwestern Mutual Future Ventures will continue to grow the company’s venture investment portfolio and transform how consumers achieve financial security
MILWAUKEE, May 30, 2019 /PRNewswire/ — Northwestern Mutual announced today it has designated $150 million to form Northwestern Mutual Future Ventures Fund II, an extension of the company’s corporate venture capital fund that launched in 2017. Northwestern Mutual Future Ventures Fund II will continue to advance the company’s investment strategy and provide a greater opportunity to engage startups whose technologies have the potential to further transform how people experience and achieve financial security.
“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. “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.”
Four key strategic investing areas
Investment criteria and focus for Fund II remains consistent with Northwestern Mutual Future Ventures Fund I. Investments, which will range from $500,000 to $5 million, will typically begin in Series A or B funding rounds. Partnerships will focus on four key strategic investing areas:
We're committed to transforming the client experience to drive change within the financial services industry...
- Building for consumers’ changing financial preferences
- Reimagining the client experience
- The digital health revolution
- Transformational analytics and technologies
Since launching in 2017, Northwestern Mutual Future Ventures has completed investments in 14 startups and deployed $43 million in capital. Fund II will further accelerate Northwestern Mutual’s venture investing and create deeper engagement with startups to align with the company’s strategy and goals, as well as increase focus on technological disruption.
For more information and to contact Northwestern Mutual Future Ventures, visit nmfutureventures.com.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for more than 160 years. Through a distinctive, whole-picture planning approach, we empower our clients to make the most of every single day and plan for important moments in their future. We combine the expertise of our financial professionals with a personalized digital experience to help our clients navigate their financial lives every day. With $272.2 billion in assets, $28.5 billion in revenues, and $1.8 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.5 million people who rely on us for life, disability income and long-term care insurance, annuities, and brokerage and advisory services. The company manages $128 billion of investments owned by our clients and held or managed through our wealth management and investment services businesses. Northwestern Mutual ranks 104 on the 2018 FORTUNE 500 and is recognized by FORTUNE® as one of the “World’s Most Admired” life insurance companies in 2019.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, life insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (securities), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (fiduciary and fee-based financial planning services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors.