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INNOVATION | 11.21.2018

MAPFRE to participate as an anchor investor in an insurtech venture capital fund focusing on startups

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Will invest 25 million euros in Alma Mundi Insurtech Fund

MAPFRE has decided to participate as an anchor investor in the “Alma Mundi Insurtech Fund, FCRE” venture capital fund, which will focus exclusively on the insurtech space. MAPFRE will invest 25 million euros, and will play a leading role in the fund.

With this transaction, MAPFRE is stepping up its commitment to investment in venture capital associated with the insurance sector, which started in 2016 with the acquisition of a minority interest in Alma Mundi Innvierte Fund, FCRE, an investment fund that finances different startups, including Spanish, Latin American and US companies, some of which are developing technological projects related to the insurance industry.

This new fund, registered in the CNMV as Alma Mundi Insurtech Fund, Fondo de Capital Riesgo Europeo, is managed by Mundi Ventures. The investments will be linked to the insurance sector, specifically artificial intelligence and big data technologies, with investments primarily being made in Europe and Israel, another insurtech innovation hub.

The fund takes the form of a platform for the identification of early stage startups whose technology can be applied to the needs and trends of the industrial side of insurance, both from the perspective of internal process optimization and product generation and attracting clients.

MAPFRE’s objective is twofold: securing additional business contribution to the Group and generating a financial return on its investments.