Transverse Insurance Group, a property & casualty (P&C) carrier, has launched a venture capital fund, Transverse Ventures Fund I, that will focus on early-stage investments in insurance and InsurTech.
Launched in 2018, Transverse Insurance Group is a hybrid fronting carrier serving the program, MGA, and reinsurance markets with offices in New York, New Jersey, and Texas.
The fund is supported by multiple strategic limited partners including insurance carriers and executives, each bringing expertise and capabilities to each of the fund’s portfolio companies that are disrupting the insurance landscape.
The fund is mainly focused on making early-stage investments in insurance and adjacent technologies impacting the insurance industry.
Dave Paulsson, Transverse Ventures co-managing partner, said, “We built Transverse to be the ideal partner for sophisticated MGAs as well as other leading origination, underwriting, and technology platforms.
“We are excited to leverage the capabilities of a modern programme carrier as well as the insurance expertise represented by our team.”
Erik Matson, co-managing partner, added, “As a venture capital fund backed by a programme carrier, we have a rare ability to drive value creation in portfolio companies spanning the time from initial investment through significant evolutionary growth.”
Copyright © 2022 FinTech Global