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MassMutual launches $100m venture firm to support core business

25 Jul 2014

Rocket ShuttleMassachusetts Mutual Life Insurance Company has launched a $100m corporate venture capital firm to back companies with the potential to support the LP’s core insurance, retirement and asset management business.

MassMutual Ventures will be managed by MML senior vice president for strategy and corporate development Doug Russell, alongside new hire Eric Emmons from Siemens Venture Capital North America.

Terawatt Ventures and Brookline Ventures founder Mark Goodman will also help lead the business from its Boston base.

Russell said, “By actively investing in those businesses that are innovating and leading change in our industries, MassMutual will gain valuable insight into new technologies and business models that will ultimately benefit our policy owners and customers.

“MMV enables MassMutual to build meaningful and long-term relationships with these potential business partners, and to keep abreast of the rapid technological changes affecting our industries.”

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