Munich Re Ventures Launches New Fund to Mark a Decade of Innovation in Risk Technology

Munich Re Ventures Marks 10 Years with New Funding Initiative

Munich Re Ventures (MRV), the venture capital division of Munich Re Group, is celebrating a decade of impactful investments at the intersection of risk and technology. On May 21, 2025, they proudly announced the closure of their fifth fund, a significant $125 million investment sourced from their founding limited partner, HSB. This strategic fund aims to channel resources into startups within the Built World sector, focusing on innovative equipment and technology designed to reduce risks while optimizing performance across property management, industries, supply chains, and essential cybersecurity measures.

This new fund, officially named HSB Fund II, expands MRV's assets under management to an impressive $1.2 billion, showcasing the firm’s sustained commitment to advancing the insurance landscape.

Jacqueline LeSage, Managing General Partner at Munich Re Ventures, reflected on the journey since the establishment of MRV a decade ago, highlighting the profound pride felt in the achievements of supported founders and the strong partnerships forged with HSB that continue to drive new visions in the insurance sector. The inception of MRV was made possible by HSB Fund I, which provided initial capital, establishing the foundation for future growth and innovation.

Over the years, several investments from HSB Fund I have attained unicorn status. Notable companies include At-Bay, a cyber insurance provider that delivers pioneering security solutions, and Augury, known for its advanced industrial manufacturing intelligence. Their success story also encompasses the acquisition of Mnubo, an IoT data analytics company, by AspenTech in 2019, underscoring the impact of MRV’s strategic investments.

HSB's President and CEO, Greg Barats, emphasized the ongoing pursuit of innovative technologies and business models aimed at predicting and preventing equipment malfunctions that are crucial for both businesses and consumers. The launch of HSB Fund II represents a step forward in sustaining collaborations with bold entrepreneurs committed to tackling both emerging and established challenges.

The launch of this new fund will empower MRV to further pursue its mission of supporting pioneers in equipment technology and resilience. HSB is focusing its efforts on enhancing operational efficiency, durability, and predictive maintenance within critical infrastructure and industrial assets. Key appointments in the MRV team, including Jennifer Place as Principal and Adam Care as VP of Portfolio Development, signal the firm’s robust commitment to leading innovations at this intersection.

Jennifer Place brings ten years of expertise spanning Built World, Energy, and Industrial sectors to her role where she will manage the HSB funds and spearhead investments in these pivotal areas. Conversely, Adam Care’s extensive experience with HSB over the last 12 years will be invaluable in cultivating partnerships that enhance MRV's portfolio and technology collaborations.

The MRV team, comprised of experienced investors, aims to assist portfolio companies in navigating hazardous environments by providing essential capital, industry connections, and risk solutions tailored to the evolving market landscape. With the introduction of HSB Fund II, MRV is strategically positioned to support the next wave of startups innovating in the domain of risk and technology.

About Munich Re Ventures

Munich Re Ventures serves as the venture capital arm of Munich Re Group, a global leader in reinsurance and primary insurance, with a management portfolio exceeding $1.2 billion. Their focus rests on identifying and supporting startups that pave the way for transformative risk management solutions, thus shaping the future of the insurance industry.

About HSB

HSB operates as a multi-line specialty insurer under the Munich Re umbrella, offering expertise that combines engineering, technology, and data analytics in crafting insurance solutions that tackle emerging risks wrought by technological advancements. The company upholds a long-standing mission of loss prevention and sustainable energy use.

Conclusion

As Munich Re Ventures embarks on this next chapter with the launch of HSB Fund II, they remain steadfast in their commitment to cultivating innovative solutions that redefine risk management in an evolving landscape. The synergy between technology and insurance fortifies their pledge to secure a resilient future.