Palo Alto, CA- and London, UK-based AV8 Ventures has raised a €150m (approx. $170m) debut early-stage venture capital fund.
Solely backed by Allianz Group, one of the world’s leading insurers and asset managers with more than 92 million retail and corporate customers, the fund wull invest in seed and Series A startups in the U.S. and Europe focused on the “machine-enabled future.”
It will focus on:
– Digital Health,
– Mobility, and
– Enterprise Tech.
Led by Managing Partners George Ugras and Miles Kirby, who have been executives and investors in startups across a number of industries over the past 20 years, AV8 Ventures has already invested in 7 portfolio companies across the US and Europe, including Hometree, M.Qube, Swift Shift, Alpha Medical, PlanetiQ, Contract Wrangler, and Locomation.
Ugras until recently lead IBM Ventures globally. Kirby previously ran the Qualcomm Venture Capital Group in Europe.
The team also includes:
– Serpil Kuyacak-Schiebel, Managing Partner
– Dr Gloria Lau, Operating Partner
– Marco Pavone, Venture Partner
– Bret Battles, Venture Partner
– Andrew Mulvenna, Venture Partner