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.