MassMutual Ventures launches sophomore Southeast Asia fund

MassMutual Ventures has launched a $100m vehicle, marking its second Southeast Asia-focused fund within the space of a year.

The firm launched its Southeast Asia division in Singapore last year with a $50m vehicle. MassMutual Ventures Southeast Asia was launched to back early- and growth-stage businesses in the region operating in the FinTech, cybersecurity, digital health and enterprise software sectors.

Following the close of the sophomore fund, the firm is extending its regional reach to include Hong Kong, India, Australia and New Zealand.

With the larger fund size, the investor is hoping to back an additional 15 to 20 companies, as well as continuing to support its existing portfolio companies.

MassMutual Ventures, which is the investment division of Massachusetts Mutual Life Insurance Company, has invested in around 40 companies across Europe, North America, Israel and Southeast Asia.

The firm recently contributed to the $23m Series A round of AI-powered insurance comparison platform Insurify. Another recent investment was a contribution to the $40m Series D of third-party cyber risk platform CyberGRX.

MassMutual Ventures managing director Doug Russell said, “We are excited to significantly expand our international presence with this second fund for MMV SEA. This additional capital will allow us to invest in more startups in the region that have the ability to generate positive returns for MassMutual.

“Furthermore, we can continue to build a truly global MMV platform, giving entrepreneurs access to significant networks and expertise, while providing MassMutual with valuable insights into new trends, technologies and solutions that are being developed around the world.”

MassMutual now has $350m in total capital under management spread across four funds – two $100m vehicles and the two Southeast Asia funds which amount to $150m.

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