TLDR:
- PruVen Capital, a fintech and insurance tech venture fund founded by Ramneek Gupta, has closed a new $378.5 million Fund II to invest in financial services and enterprise-focused startups.
- Gupta expanded the fund beyond a corporate fund with one main LP – Prudential Financial – to include a number of financial and insurance LPs like TIAA, Lincoln Financial, Generali, Nippon Life, Mutual of Omaha, and Willis Towers Watson.
In a significant move, former Battery Ventures and Citi Ventures VC Ramneek Gupta has founded PruVen Capital, a fintech and insurance tech venture fund that has closed a new $378.5 million Fund II. This fund will be used to invest in financial services and enterprise-focused startups. What makes this fund stand out is its expansion beyond a corporate fund with a main LP to include the support of several financial and insurance LPs such as Prudential Financial, TIAA, Lincoln Financial, Generali, Nippon Life, Mutual of Omaha, and Willis Towers Watson.
Gupta’s goal is to offer portfolio companies access to partner with top global insurance companies, providing them with a significant first customer while giving LPs a first look at emerging technologies. This partnership is essential as insurance and financial services companies are technologically driven and eager to invest in and partner with startups like those supported by PruVen. With Gupta’s proven success in the venture capital industry, this new fund is poised for success in the financial and enterprise startup landscape.
