Boston-based venture capital firm MassMutual Ventures (MMV) has raised a new fund to invest in early and growth-stage Israeli and North American companies.
The eight-year-old investment firm did not specify the size of the new fund, but said that it takes its assets under management to $400 million.
MMV typically backs digital health, financial technology, enterprise SaaS, and cybersecurity companies.
Established in 2014, MMV is led by Eric Emmons and Marc Goodman. Soon after its inception, the two co-founders were joined by principal Charles Svirk.
MMV has so far backed 40 companies and counts several exits including from Recorded Future, which was acquired by New York-based Insight Partners, and RiskIQ, which was bought by Microsoft.
“Over the past eight years, we’ve steadily expanded MassMutual Ventures’ team and reach while executing against our proven investment strategy,” said Emmons. “MMV’s established sourcing and partnership platform provides us with a scalable way to back an increasing number of exceptional companies during this current economic climate.”
“MMV plays an active role in our portfolio companies’ ongoing development through board governance, strategic advice, recruiting, and customer introductions,” said Goodman. “The new fund will be supported by the invaluable access to a leading financial services company with a deep expertise and network in fintech, cybersecurity, data science, and technology infrastructure.”
“MMV is an active, hands-on partner,” said Svirk. “Once we are on the cap table, the entire MMV team is working for our portfolio company.”
MMV’s current portfolio of companies includes LinkSquares, Insurify, Affinity, Ledger Investing, and Prove Identity.
“MMV’s overall investment capital has more than doubled in size in just two years between our U.S. team and team that invests across the Asia-Pacific region and Europe, underscoring our commitment to build a truly global platform,” said Doug Russell, Managing Director and Head of MassMutual Ventures. “This latest fund allows our U.S. team to build on the success and momentum the MMV fund family has realized in backing founders and companies that are fundamentally transforming the industries within our investment focus.”