Odysseus Alternative Ventures, the private equity and venture capital arm of Reech Corporations Group, has teamed up with Apicil Group, a French provider of social protection, to create an insurtech fund.
Launched with a commitment of €10m, Insurtech Capital I will invest in a variety of French and European startups that are seeking to develop new technologies, new business models and new forms of delivery for the insurance sector.
The fund is targeting investments in innovative companies within the insurance sector which are early stage start-ups (Seed and Series A). It will eventually scale with other European insurance companies in Germany, Switzerland, the Netherlands and the UK.
The initiative will allow Apicil to get access to sources of innovation which will drive future growth and profitability for the Group as a whole.
Odysseus Alternative Ventures is led by CEO Minh Q. Tran and Reech Corporations Group Chairman Christophe Reech.