MassMutual Ventures launches $100m second fund for Southeast Asia

MassMutual Ventures (MMV), the venture capital arm of US-based insurance firm Massachusetts Mutual Life Insurance Company (MassMutual), announced that it has launched its US$100 million second fund for Southeast Asia.

With the larger new fund, which was provided by parent MassMutual, the Singapore-based MassMutual Ventures Southeast Asia (MMV SEA) fund will continue to focus on investing in early- and growth-stage companies in the digital health, fintech, and enterprise software sectors, according to a statement.

From left: MMV SEA associate Carlos Jo Loo, and managing directors Anvesh Ramineni and Ryan Collins / Photo credit: MassMutual Ventures

The new fund will allow the firm to invest in 15 to 20 more companies, Anvesh Ramineni, MMV SEA’s managing director, said.

“As a vibrant and growing ecosystem, Southeast Asia offers tremendous opportunities,” said Ryan Collins, managing director at MMV SEA who’s co-leading the fund alongside Ramineni.

MMV SEA launched its first US$50 million fund in 2018 to invest in 10 to 15 companies across the region. In the past year, it has invested in companies including Hong Kong-based startup Lynk, Singapore fintech startup Aspire, and Singapore analytics startup Milieu Insight, among others.

According to a statement, the fund looks to widen its investment reach by seeking opportunities outside of Southeast Asia, in countries like Hong Kong, India, Australia, and New Zealand.

“We are excited to significantly expand our international presence with this second fund for MMV SEA. This additional capital will allow us to invest in more startups in the region that have the ability to generate positive returns for MassMutual,” said Doug Russell, managing director and head of MMV.

Founded in 2014, MMV has backed nearly 40 companies in North America, Europe, Israel, and Southeast Asia.

According to the statement, the new MMV SEA fund brings its total capital under management to US$350 million across four funds, which includes US$200 million US-based funds investing in North America, Europe, and Israel.