IA Capital Group Raises $150 Million for Insurtech Investing

April 4, 2019

IA Capital Group, an insurtech-focused venture capital firm, said it has raised $150 million across three funds.

The three funds are Inter-Atlantic Stonybrook Insurtech Ventures, focusing on property/casualty insurtech; Inter-Atlantic G Fund, focusing on life/annuity/retirement insurtech; and Inter-Atlantic Ivy, focusing on later-stage opportunities in insurtech and fintech.

The firm oversees venture capital investments on behalf of a variety of institutions including 13 insurers that have a strategic interest in insurtech. These 13 insurance companies are in property/casualty, life, mortgage, and financial guaranty.

The three new funds represent the firm’s sixth, seventh and eighth investment vehicles. Its portfolio of companies it has invested in includes Snapsheet, Clearcover, Hamilton Insurance, Wealthie and Sure.

IA Capital said it limits its investment activities to North American post-revenue companies, with a preference for Series A, B, and C funding rounds. Occasionally, the firm launches and incubates its own startup company, as it did with Boost Insurance.

The firm’s principals also oversee Homeowners of America Holding Corp., a Texas-based property insurer that wrote over $160 million of premiums in 2018.

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