Odysseus Alternative Ventures has partnered with APICIL Group to launch a new InsurTech-dedicated investment fund.
InsurTech Capital I has a capital pool of €10m and will be invested into a string of French and European startups. Its focus is on companies that are developing new technologies, business models or forms of delivery for the insurance sector.
The vehicle is targeting insurance companies which are at early stage (seed and Series A) and will utilise Odysseus Alternative Ventures’ semiautomated sourcing platform to identify and filter potential investment opportunities.
In the future, InsurTech Capital Fund is hoping to scale with other European insurance companies across Germany, Switzerland, the Netherlands and the UK.
From this partnership, France-based social protection firm APICIL is hoping to achieve investment exposure in the InsurTech space. The fund will also help the firm to increase innovation and drive growth.
Reech Corporations Group chairman Christophe Reech said, “Together with APICIL, we will be able to create a unique investment platform which will support and nurture promising early stage companies in one of the most exciting areas of the insurance industry. We are pleased to have a partner with the vision and expertise that APICIL is able to bring.”
Earlier in the year, Reech Corporation Group and Seed Founders partnered to launch Odysseus Alternative Ventures as a new tech-focused investment firm. Plans are for the firm to deploy around €1bn in total to FinTech solutions and will be run alongside a parallel family of funds.
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