Munich Re Ventures

www.munichre.com/mrv/en.html

Formerly HSB Ventures

Foreign Corporate VC

Tech Verticals Preferences

Artificial Intelligence, Automotive, Big Data, Connected Car, Cyber Security, Data Analytics, Deep Tech, Digital Health, FinTech, Healthtech, Industrial Technologies, Insurtech, IoT, Marketplace, Mobility Tech, Security

General Data

Established	2014
Current Active Portfolio Companies:	12

DESCRIPTION

Munich Re Ventures (MRV) is the venture capital group of Munich Re, the world’s largest reinsurance company, and a leading global provider of primary insurance and insurance-related risk solutions. MRV is a $1B+ platform that is financially driven while focusing on the strategic interests of Munich Re and the broader insurance industry. MRV’s experienced investors work closely with Munich Re Group businesses across the globe to fund and partner with the best-emerging companies that are developing new technologies and business models – and risks – for tomorrow’s world. The funds cover a broad set of sectors including Insurtech, HealthTech, Cybersecurity & Privacy, Resilient Future, and Built World.

AFFILIATION

Account ID	Affiliation Type	Name	Parent Name	Status
		Munich Re
C52682FA-C530-E711-80D3-00155D0B832B	Investment Arm	Munich Re Ventures	Munich Re
	Subsidiary	ERGO Group AG	Munich Re
3ADA0B2C-CDA4-F011-B81A-00505695CD29	R&D Center	Next Insurance Ltd. (an ERGO Group company)	ERGO Group AG

REMARKS

Date	Remark
	Munich Re Ventures invests out of three funds with the Munich Re Group companies as Limited Partners: the Munich Re Fund for the Reinsurance Group, the HSB Fund for specialty insurer Hartford Steam Boiler, and the ERGO Fund for European and Asian primary insurer ERGO.

CONTACT INFO

Expand / Collapse All

Main Address: San Francisco, United States

Address	Two Embarcadero Center, Suite 2220
City	San Francisco
State/Province	CA
Country	United States
Zip	94111

Contact Person	abC Defghij
Contact E-Mail	abC Defghij
Company E-mail	abC Defghij
Telephone	abC Defghij
Fax	abC Defghij

Branch Address: Israel

Country	Israel

Contact Person	abC Defghij
Contact E-Mail	abC Defghij
Company E-mail	abC Defghij
Telephone	abC Defghij
Fax	abC Defghij

	MANAGEMENT

Key Executive

Name	Title	Previous Position
Ms. Jacqueline LeSage-Krause	Managing General Partner & Founder
Mr. Alex Kamenetskiy	Managing Director, COO & CFO
Mr. Oshri Kaplan	Managing Director	Lab IX (Principal Director of Lab IX USA)
Dr. Timur Davis	Director

Investment Data

Managed Capital

abCDe

Preferences

Type of Financing	Equity
Stage Preferences	Initial Revenues,R&D,Revenue Growth,Seed

SECTOR SEGMENTATION (By Number Of Companies)

Enterprise Software & Infrastructure

68%

Hardware & Industrial

Consumer-Oriented Software

Digital Health

Energy

	PORTFOLIO COMPANIES

Current Portfolio Companies (12)

Company Name

Sector

Round/Deal Type

Date Announced

Investor Amount

Total Deal Amount

Remarks

Air Doctor

Dig. Health

Second Round	01/10/2024	N/A	$20m
First Round - Extended	31/05/2022	N/A	$20m

At-Bay

Ent. SW

Fourth Round	27/07/2021	N/A	$185m
Third Round	08/12/2020	N/A	$34m	Investment made by the HSB Fund.
Second Round	20/02/2020	N/A	$34m	Investment made by the HSB Fund.

Augury

HW & Indust.

Sixth Round	19/02/2025	N/A	$75m
Fifth Round - Extended	01/05/2023	N/A	$8m
Fifth Round	26/10/2021	N/A	$180m
Fourth Round	14/10/2020	N/A	$55m	Investment made by the HSB Fund.
Third Round	31/01/2019	N/A	$25m	Investment made by the HSB Fund.
Second Round	19/06/2017	N/A	$17m	Investment made by the HSB Fund.

Empathy

CO SW

Third Round

29/05/2025

N/A

$72m

Faye

Ent. SW

Second Round	30/07/2024	N/A	$31m
First Round	23/05/2023	N/A	$10m

Flow Specialty

Flow was founded upon a commitment to bring the best of technology and people together to  transform specialty insurance. Insurance is the bedrock of entrepreneurial business activity; in times of peril, companies rely on risk transfer to ensure their longevity. However, the insurance needs of corporations are complex and require guidance from retail agents, who need the expertise of knowledgeable and responsive wholesalers.

As a next-generation specialty brokerage for professional lines of commercial insurance, they are focused on people and fueled by technology. Flow was founded in 2021 by a group of passionate insurance and technology experts who are committed to bringing advanced technology and people together, to serve insurance better.

Headquartered in California with its research and development center in Tel Aviv, and backed by top tier venture capital, they bring enhanced responsiveness, increased transparency, cutting edge technologies, and superior service to retail brokers and carriers alike.

Ent. SW

First Round

17/04/2023

N/A

$15.6m

Found Energy

Energy

Seed

17/04/2024

N/A

$12m

Notch Insurance

Notch operates AI agents that fully automate work processes in companies that operate under heavy regulation, including insurance, investments, communications, healthcare and more. It provides an infrastructure layer through which a system can be built for external (facing customers) and internal use to the organizations. The company's platform supports dialogue with brokers, partners and policy holders, including handling service requests for policies, collecting documents and data, structured information capture for claims and underwriting submissions, and responding to inquiries that require system-level actions. Notch's autonomous platform operates across all channels, including phone calls, WhatsApp, text messages, emails and chatbots. In terms of the internal organization, the company's platform allows role holders to ask questions in natural language about long claim files, policies and other documents. It returns structured and traceable responses based on source data that include a quick summary of complex documents, along with additional relevant information from the company's data and external sources. In addition, Notch's system performs extensive automation of processes that include document and communication intake, structured data extraction for use by AI tools, classification and routing of claims and prioritization of urgent requests to the appropriate teams within the company.

Ent. SW

First Round	25/03/2026	N/A	$30m
Seed - Extended	30/09/2025	N/A	$7m
Seed - Extended	02/07/2022	$1m	$1m

Sentra

Ent. SW

Second Round	22/04/2025	N/A	$50m
First Round	31/01/2023	N/A	$30m

Sepio

Ent. SW

Second Round	25/10/2022	N/A	$22m
First Round - Extended	26/03/2020	N/A	$4m	Investment made by the Munich Re Fund.

ShipIn

Ent. SW

First Round

19/10/2022

N/A

$20m

Sweet Security

Ent. SW

Second Round	12/11/2025	N/A	$75m
First Round	06/03/2024	N/A	$33m

Current VC Fund Portfolio (1)

Fund Name

Fund Type

Date Announced

Amount

Remarks

Team8 Partners II

Venture Capital Fund

01/03/2018

N/A

Investment made by the Munich Re Fund.

Exits (2)

Company Name	Exit Type	Date Announced	Amount	Remarks
abC Defghij	IPO	02/08/2021	abCDe	SPAC Deal
abC Defghij	Acquired	01/07/2025	abCDe	In cash. ERGO Group is the primary insurance arm of Munich Re, a German multinational reinsurance company.

Historic Portfolio (1)

Company Name

Sector

Round/Deal Type

Date Announced

Investor Amount

Total Deal Amount

Remarks

Fraugster

Ceased to Operate

Ent. SW

Second Round

07/11/2018

N/A

$14m

Investment made by the Munich Re Fund.

Last Updated:	abCDe
IVC Number:	abCDe