The Generali Group, a global insurance and asset management provider, has announced that Generali Ventures, its venture capital initiative, will be entering new markets and looking for promising investment opportunities in the insurtech and fintech sectors.

“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,” said Bruno Scaroni, group chief transformation officer of Generali.

Investments in the insurtech and fintech landscape

After its launch in 2022, Generali Ventures has already invested in three initiatives. These include: Mundi Ventures, which specializes in insurtech technologies; Speedinvest, which focuses on startups that are in the early pre-seed and seed stages; and Dawn, which focuses on investing in B2B software solutions.

The firm’s search for external innovation includes the broad spectrum of technologies making moves within the insurance industry in mobility, artificial intelligence, cyber security, and healthcare. It is keen on investing in innovative startups that are either in the pre-seed or late stage and are VC funds within Europe and the United States.

“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,” said Scaroni.

Generali Ventures is part of the Generali Group’s strategic plan called ‘Lifetime Partner 24: Driving Growth’ which has cumulative investments within the digital and technological transformation of the firm worth €1.1 billion.

Generali Ventures will be dedicating €250 million as it identifies investment opportunities for the firm.

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