Generali has kickstarted its latest venture capital initiative, “Generali Ventures”, aiming to bolster innovation and identify fresh market opportunities.
The venture fund has a dedicated allocation of €250m, with a primary spotlight on the InsurTech and FinTech realms.
Born out of comprehensive research spanning over 100 venture capital funds in 2022, Generali Ventures pledges its commitment to discovering and backing the most compelling investment ventures. It has already strategically channeled funds into three pivotal initiatives: Mundi Ventures, which majors in InsurTech technologies; Speedinvest, which supports start-ups in their embryonic pre-seed and seed phases; and Dawn, which is vested in B2B software solutions.
The enterprise’s quest for external innovation extends to a wide array of technologies transforming the insurance sector, covering niches like mobility, artificial intelligence, cybersecurity, and healthcare. Their investment lens is broad, scouting innovative start-ups from their inception to later stages. Their geographical ambition isn’t limited and expands to venture capital endeavours in both Europe and the United States.
Generali Ventures is an integral component of the “Lifetime Partner 24: Driving Growth” strategy. This overarching strategy is pinned on three primary pillars: spearheading innovation and digital transition, establishing forward-thinking business models, enriching customer experience via the “Lifetime Partner” advisory approach, propelling innovation as a data-centric enterprise, and boosting operational efficiency by scaling automation and technology.
Bruno Scaroni, Group Chief Transformation Officer of Generali, articulated, “As set out in our ‘Lifetime Partner 24: Driving Growth’ strategic plan, Generali is an innovative customer-oriented Group, focused on the best possible use of data and emerging technology. Thanks to this new venture capital initiative, we will make long-term investments in the global innovation ecosystem. Generali Ventures will also have a positive impact on the insurance sector, boosting the development of innovative projects, opening up new opportunities for collaboration and integrating initiatives that contribute to the overall transformation of the Group.”
Notably, as a part of the “Lifetime Partner 24: Driving Growth” strategic blueprint, Generali Ventures follows in the footsteps of the Group’s dedication to digital and technological metamorphosis, having already committed to €1.1bn of cumulative investments.
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