BrokerTech Ventures (BTV) has partnered with leading InsurTech venture capital investor ManchesterStory Group to launch the BrokerTech Fund, LP, a venture capital fund focused on early-stage InsurTech companies developing broker-centric technology solutions.
BTV is a broker-led convening platform and accelerator programme. Founded in 2019, BTV provides a venue for the best minds in insurance and technology to collaborate and bring to market leading-edge ideas and solutions.
The company said this is the first fund of its type.
Limited Partners of the $34m fund include Holmes Murphy, M3 Insurance, Baldwin Risk Partners, UNICO Group, IMA Financial Group, Christensen Group, and The Graham Company.
Dan Keough, Holmes Murphy chairman and CEO and BTV co-dounder and co-CEO, said, “This is an exciting time for Holmes Murphy, BTV, and all of our partners who have worked tirelessly to get the BrokerTech Fund off the ground. We believe we’ve harnessed something special through the power of BTV. Now, using this new Fund as a catalyst for capital infusion, we’re even more bullish around the possibilities to change and innovate our industry even further and to impact the client experience even greater.”
Dave Miles, Founding Partner of ManchesterStory, added, “We are thrilled to team up with the owners and partners of BTV to manage the BrokerTech Fund. BrokerTech Ventures brought front and center the voice of the broker community in InsurTech innovation. With today’s launch of the BrokerTech Fund, BTV once again breaks new ground with the first-ever venture fund backed by a consortium of leading insurance brokers dedicated to helping insurance brokers better serve the needs of their insurance customers through technology.”
Last year, Insurtech Gateway, a champion of early-stage InsurTech startups, completed the first close of its Seed Fund II which will support 20 teams over the next four years from pre-seed to Series A.
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