MassMutual Ventures Launches USD 50 Million Fund for Investments in Southeast Asia

Stocks and Financial Services Press Releases Wednesday November 7, 2018 13:17
BOSTON and SINGAPORE--7 Nov--PRNewswire/InfoQuest
  • MMV Southeast Asia to invest in 10 to 15 startups in the region over the next 3 years

Widening its investment reach, MassMutual Ventures (MMV) announced today the establishment of a USD 50 million fund – MassMutual Ventures Southeast Asia (MMV SEA) – which will make investments in 10 to 15 startup companies throughout the region over the next three years.

MMV SEA, based in Singapore, is targeting Series A and Series B round investments in digital health, fintech, insurtech and enterprise software. MMV SEA's funding is being provided through the general investment account of parent company Massachusetts Mutual Life Insurance Company (MassMutual).

The new funding brings the total capital under management for four-year old MMV – a return focused fund investing in dynamic and innovative seed to growth stage companies in North America, Europe, Israel, and now Southeast Asia – to USD 250 million. MMV SEA will also work with MassMutual International – MassMutual's international insurance holding company – leveraging its relationships in the region, to identify potential investments and opportunities for MMV's portfolio 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, MMV Managing Director, who will oversee MMV SEA's operations. "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."

MMV SEA is led by two Managing Directors – Ryan Collins and Anvesh Ramineni – both of whom are experienced investment professionals in the region, and who will be charged with sourcing and executing investment opportunities.

"With its rapidly growing digital economy and ongoing development of the startup ecosystem, the investment climate in Southeast Asia offers tremendous opportunities," said Collins.
Ramineni added, "MassMutual Ventures has an outstanding track record of identifying companies with the potential to disrupt the industry. We look forward to building upon that success."

Prior to joining MMV SEA, Collins was Head of Asia at Manulife's LOFT incubator, developing new business models and technologies in insurance and investment services. Before LOFT, he was Asia Managing Director at Essentia Analytics, a data analytics SaaS company. Formerly an Executive Director at Goldman Sachs in Tokyo and Hong Kong, Collins has advised on and executed multiple capital markets transactions across Asia-Pacific. He holds a BSc in Computer Science and an MSc in Psychology.

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. Prior to OpenSpace, he was a TMT investment banker at Citigroup Global Markets in Hong Kong, where he worked on strategic financial advisory mandates and executed marquee M&A and capital markets transactions across Asia. Ramineni holds a bachelor's degree in Electronics & Communications Engineering, and an MBA with a concentration in Finance.

About MassMutual Ventures

MassMutual Ventures (MMV) is a return-focused venture capital fund investing in seed to growth stage companies in North America, Europe, Israel and Southeast Asia. Our key areas of investment focus include fintech, insurtech, cybersecurity, data analytics, digital health and enterprise software. We lead or join investment syndicates in companies poised to create significant enterprise value through differentiated innovation and focused execution. Today, MassMutual Ventures manages USD 250 million across two funds – Boston-based MMV and MMV SEA, headquartered in Singapore.

Massachusetts Mutual Life Insurance Company (MassMutual) is the parent company of MMV. Entrepreneurs interested in working with MMV can contact the investment team directly at ventures@massmutual.com. Entrepreneurs interested in working with the MMV SEA team can contact the investment team directly at mmvsea@massmutual.com.

Contact:
Michael McNamara
+1 413 744 3917
michaelmcnamara@massmutual.com
Ary Kim
ary.kim@bm.com
+65 9623 6837

Latest Press Release

Permission to Issue Baht-denominated Bonds or Debentures by Foreign Entity in Thailand during 1stMay 2019 31stJanuary 2020

Pursuant to the Ministry of Finance's Ministerial Notification re: Permission to Issue Baht-Denominated Bonds or Debentures in Thailand on the 11th April 2006 and four amendments, which stipulates criteria for permission to issueBaht-denominated bonds or...

Ontario Teachers# to invest in global disruptive technology through new innovation platform

Ontario Teachers' Pension Plan (Ontario Teachers') is pleased to announce it is launching a new investment department, Teachers' Innovation Platform (TIP). TIP will focus on late-stage venture capital and growth equity investments in companies that use...

Photo Release: 2019 GL Annual General Shareholders Meeting

Group Lease Public Company Limited (GL) led by Mr. Skol Harnsuthivarin (5th from left), Chairman of the Board of Director, Mr. Tatsuya Konoshita (6th from left), Chief Executive Officer together with the Board of Directors held the 2019 Annual General...

Photo Release: EXIM Thailand Holds FX Risk Management Phase 2 e-Learning To Promote FX Risk Hedging Tools for SME Exporters

Mr. Chana Boonyachai (left), Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), recently took a group photo with Ms. Vachira Arromdee (center), Assistant Governor, Financial Markets Operations Group of the Bank of Thailand (BOT),...

Guangdian Capital (GDC) Backed Mountain Top Receives Investment from China#s Tech Giant ByteDance

In March 2019, China's tech giant ByteDance has invested in Mountain Top, a leading talent agency in China. The previous funding round of Mountain Top was led by Guangdian Capital ("GDC"), which has invested RMB 100 million in the company back in 2016....

Related Topics