Northwestern Mutual, Milwaukee, WI-based provider of financial security solutions, has announced the launch of a $50M multi-year venture capital initiative.
Northwestern Mutual Future Ventures will invest in startups developing technologies which have the potential to transform how consumers experience and achieve financial security. For the company, the new initiative aims to increase the focus on innovation and build greater digital relevance for clients, increase data-driven decision making and create back-end efficiencies with the goal of generating added value for its more than 4 million clients.
Led by Rebecca Porter, vice president of corporate strategy and chairperson of the investment committee, Northwestern Mutual Future Ventures will make investments ranging between $500k and $3m in each startup focusing on four priority investment areas:
– consumers’ changing preferences,
– reimagining the client experience,
– the digital health revolution, and
– transformational analytics and technologies.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, which provides financial security solutions including life insurance, long-term care insurance, disability income insurance, annuities, life insurance with long-term care benefits, investment products, and advisory products and services.
Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company (NMWMC), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC).