France’s Eurazeo has launched a fund targeting Southeast Asia’s insurtechs, according to a DealStreetAsia report.
The French asset manager’s 200 million-euro (US$214.2 million) fund, which will make investments of around US$10 million to US$20 million in insurtech and related companies, has earmarked Southeast Asia for around two-thirds of the quantum, with India and other markets taking up the remainder, «DealStreetAsia» reported Wednesday. The fund has only one limited partner, an unnamed European insurer, the report said.
The fund will be led by Albert Shyy, a former Burda executive, who will be based in Singapore, the report said.
The first investment has already been made in Qoala, an Indonesia-based insurtech startup, which focuses on retail insurance products including for as cars, homes and health, the report said.
Eurazeo had around 32 billion euros in assets under management as of the end of March.
