Northwestern Mutual Future Ventures to Invest $20 Million in Female-Founded Startups
Female-founded startups receive less than three percent of the approximately $80 billion in venture capital annually. Companies founded by both men and women receive around eight percent of the total capital, coming second to male-founded companies that secure 89 percent of all venture capital invested globally each year. To address this gap, Northwestern Mutual Future Ventures, an investment arm of life insurance provider Northwestern Mutual, announced it’s dedicating $20 million of its funding to invest in startup companies founded by women.
The funding will be used to advance the company’s investment strategy of engaging startups whose technologies have the potential to transform how clients experience financial security, as well as increase focus on technological disruption.
Founded in 2017, Northwestern Mutual Future Ventures’ goal is to help you achieve yours so that together we can create a better financial future for more people. Unlike most corporate venture capital partners, Northwestern Mutual has a 160-year-old track record of industry-leading financial strength.
“Women play an essential role in financial decision-making for themselves and their families and by investing in women-owned startups, we can create more opportunities for women through a dedication of funds, but also gain strategic insights to better serve our clients,” said Souheil Badran, chief operating officer and executive vice president, Northwestern Mutual. “We’re committed to supporting female entrepreneurs and providing access to capital and resources to help them grow their businesses. Allocating $20 million is only the beginning – we will continue to invest in and provide opportunities for female founders.”
The investment criteria is aligned with Northwestern Mutual Future Venture’s key strategic areas of focus including, building for consumers’ changing financial preferences, reimagining the client experience, the digital health revolution, and transformational analytics and technologies.
Since launching in 2017, the Future Ventures Fund has invested more than $50 million in 18 startups that align with Northwestern Mutual’s investment strategy and goals. Beyond providing capital, Northwestern Mutual is a strong venture partner that offers the unique advantage of the industry-leading financial strength and scale of a Fortune 500 combined with an entrepreneurial culture.
Founded 160 years ago, Northwestern Mutual is financial services company that offers a variety of insurance and investment solutions.The company has $272.2 billion in assets, $28.5 billion in revenues, and $1.8 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.5 million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. The company manages $128 billion of investments owned by its clients and held or managed through its wealth management and investment services businesses.