MassMutual Ventures (MMV) (https://massmutualventures.com/) announced today that it has launched a second fund of US$100 million for Southeast Asia, bringing its total capital under management to US$350 million across four funds - two US$100M funds in the U.S. and US$150M in Southeast Asia across two funds. One year after establishing MassMutual Ventures Southeast Asia (MMV SEA) (https://www.massmutual.com/about-us/news-and-press-releases/press-releases/2018/11/massmutual-ventures-launches-usd-50-million-fund-for-investments-in-southeast-asia), the Singapore-based team will continue to build on its successful strategy of investing in early- and growth-stage companies in the digital health, financial technology and enterprise software sectors.
With the addition of this second fund for MMV SEA, provided by parent company Massachusetts Mutual Life Insurance Company (MassMutual) (https://www.massmutual.com/), MMV's overall investment capital is now more than triple the size since it was established over five years ago. In addition to investing in companies in the Southeast Asia region, MMV SEA will widen its investment reach by seeking opportunities in Hong Kong, India, Australia, and New Zealand.
"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 start-ups in the region that have the ability to generate positive returns for MassMutual," said Doug Russell, Managing Director and Head of MassMutual Ventures. "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."
Since launching in 2014, MMV has backed nearly 40 companies in North America, Europe, Israel, and Southeast Asia. Seven of those companies are part of MMV SEA's current portfolio (https://massmutualventures.com/investments/). MMV SEA also works with other MassMutual entities in the region - leveraging their relationships to help portfolio companies identify potential opportunities for expansion and strategic partnerships.
"We look forward to further successes with MassMutual Ventures in Southeast Asia and across the region, as the team widens its investment reach to back more companies in this dynamic and thriving part of the world," said Eddie Ahmed, Chairman, President and CEO of MassMutual International. "Additionally, this second fund underscores MassMutual's growth plans as we look to capitalize on attractive, emerging global opportunities in new markets."
Managing Directors Ryan Collins, formerly an Executive Director at Goldman Sachs, and Anvesh Ramineni, previously Head of Investments at OpenSpace Ventures, lead MMV SEA. Both are experienced investment and operating professionals in the region, and are charged with sourcing and executing investment opportunities.
"As a vibrant and growing ecosystem, Southeast Asia offers tremendous opportunities," said Ryan. "The substantial increase to our investment capital reinforces our commitment and focus, as we continue to believe in both the local opportunity and in the potential for globally successful companies to emerge from this region."
Anvesh added, "The larger new fund will give us the ability to invest in an additional 15 to 20 companies and allow us to further support our portfolio companies as they grow. We look forward to continue backing exceptional entrepreneurs and building upon the success we have had in this region over the past year."
Reflecting the increased capital under management and commitment to its portfolio companies, MMV SEA recently hired a new associate, Carlos Jo Loo. Prior to MMV SEA, Carlos was a Senior Associate at the Boston Consulting Group (BCG) SEA. During his time at BCG, he worked extensively with BCG Digital Ventures, where he co-founded two start-ups in the energy and industrials sectors. Carlos holds an MPhil in Finance from the University of Cambridge, and a BSc in Economics (First Class) from the University of Sussex.
About MassMutual Ventures Holding
MassMutual Ventures Holding (MMV Holding) is a return-focused corporate venture capital firm investing in seed to growth stage companies. Key areas of investment focus include financial technology, cybersecurity, data analytics, digital health, and enterprise software. MMV Holding manages US$350M through MassMutual Ventures, a US$200M Boston MA-based team investing in North America, Europe and Israel, and MassMutual Ventures SEA, a US$150M Singapore-based team investing across Southeast Asia. Both funds lead or join investment syndicates in companies poised to create significant enterprise value through differentiated innovation and focused execution. MMV Holding is also a significant investor in Crane Venture Partners, a London-based venture capital firm focused on early-stage enterprise start-ups in Europe. MMV Holding also has a strategic partnership with Crane. For more information, visit: https://www.massmutualventures.com/.
