Northwestern Mutual has designated $150 million to form Northwestern Mutual Future Ventures Fund II, an extension of the company's corporate venture capital fund that launched in 2017.

In a statement, Northwestern Mutual said that the fund will continue to advance the company's investment strategy and provide a greater opportunity to engage startups whose technologies have the potential to further transform how people experience and achieve financial security.

“We're committed to transforming the client experience to drive change within the financial services industry,” said Souheil Badran, executive vice president and chief innovation officer at Northwestern Mutual. “This additional capital will allow us to build on the success of Northwestern Mutual Future Ventures and invest in new technologies that have the ability to accelerate growth and advance innovation so we can create what's next for our clients, financial representatives, and employees.”

According to Northwestern Mutual, investment criteria and focus for the fund remains consistent with Northwestern Mutual Future Ventures Fund I. Investments, which will range from $500,000 to $5 million, will typically begin in Series A or B funding rounds. Partnerships will focus on four key strategic investing areas:

  • Building for consumers' changing financial preferences;
  • Reimagining the client experience;
  • The digital health revolution; and
  • Transformational analytics and technologies.

Since launching in 2017, Northwestern Mutual Future Ventures has completed investments in 14 startups and deployed $43 million in capital. Its new fund will further accelerate Northwestern Mutual's venture investing and create deeper engagement with startups to align with the company's strategy and goals, as well as increase focus on technological disruption.

Victoria Spears

Victoria Spears

Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].

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