Massachusetts Mutual Life Insurance Company (MassMutual) has formed a US$50 million investment fund, targeting markets in Southeast Asia.
The Singapore-based fund, known as MassMutual Ventures Southeast Asia (MMV SEA), will look to series A or series B rounds for digital health, fintech, insurtech, and enterprise software start-ups, a statement from the firm said.
MMV SEA will be led by managing directors Ryan Collins and Anvesh Ramineni, who are both experienced investment professionals in the region, and will be in charge of sourcing and executing investment opportunities.
Prior to joining MMV SEA, Collins was head of Asia at Manulife’s LOFT incubator, where he developed new business models and technologies in insurance and investment services. Meanwhile, Ramineni was most recently head of the investments team at OpenSpace Ventures (formerly NSI Ventures), Singapore, where he was a founding member of the firm and led investments in 12 companies.
“This new fund underscores our commitment to building a true global MassMutual Ventures platform, which will identify successful start-up companies that align with MassMutual’s prudent investment strategy, providing the best returns for our company,” said Doug Russell, managing director of MassMutual Ventures. “As venture capital continues to flow through all sectors around the globe, we are poised to take advantage of global products, solutions, and trends.”
“The establishment of MassMutual Ventures Southeast Asia reinforces MassMutual’s steadfastness to the region – expanding our footprint into Singapore and many other key areas throughout Southeast Asia,” said Eddie Ahmed, chairman, president, and CEO of MassMutual International. “Through its dedicated capital and a team with distinct knowledge of the investment climate here, we are looking forward to many exciting and innovative opportunities.”
