The venture capital arm of the Massachusetts Mutual Life Insurance Company significantly expands its international presence and brings its total capital under management to $350 million across four funds, including two in Southeast Asia totaling $150 million.
MassMutual Ventures (MMV) has announced that it is launching a second Southeast Asia-focused venture capital fund worth $100 million, one year after establishing the $50 million Singapore-based MMV Southeast Asia fund.
In a press release issued on Monday, the firm said it plans to add 15–20 companies to its portfolio, and will continue to invest in early and growth-stage companies in the digital health, financial technology and enterprise software sectors.
The new fund will also allow MassMutual to widen its investment reach by seeking opportunities in Hong Kong, India, Australia, and New Zealand.
New Hire
MMV SEA is led by managing directors Ryan Collins, formerly an executive director at Goldman Sachs, and Anvesh Ramineni, previously head of investments at OpenSpace Ventures. The pair is in charge of sourcing and executing investment opportunities for the firm.
The firm has also brought on board associate Carlos Jo Loo to support its commitment to portfolio companies. Loo was previously a senior associate at Boston Consulting Group SEA, where he worked with its digital ventures arm, co-founding two start-ups in the energy and industrials sectors.
Investment Boom
Southeast Asia has in recent years emerged as an attractive destination for global venture capital. The high rate and growth of mobile internet penetration are fueling a boom in venture capital investments at tech firms in the region.
The past year has also seen the establishment of the first international office of Vulcan Capital, the investment arm of Vulcan, which manages the late Microsoft co-founder Paul Allen's estate
