MassMutual Ventures launches US$100M second fund for Southeast Asia

Singapore-based seed-to-growth-stage VC firm MassMutual (MMV) announced the launch of its new US$100 million fund.

Targeting Asia (SEA), the fund brings the firm’s total capital under management to US$350 million across four funds –two US$100 million funds in the US and US$150 million in SEA across two funds. The first Southeast Asian fund being established a year ago under the name MassMutual Southeast Asia (MMV SEA).

MMV stated that they seek to continue to build on its strategy of investing in early- and growth-stage companies in the healthtech, fintech, and enterprise software sectors.

This second fund for MMV SEA is provided by parent company Massachusetts Mutual Life Insurance Company (MassMutual).

Aside from investing in companies in the SEA region, MMV SEA will also seek opportunities in Hong Kong, India, Australia, and New Zealand.

“We are excited to significantly expand our international presence with this second fund for MMV SEA. This additional capital will allow us to invest in more startups in the region that have the ability to generate positive returns for MassMutual,” said Doug Russell, Managing Director and Head of MassMutual Ventures.

“Furthermore, we can continue to build a global MMV platform, giving entrepreneurs access to significant networks and expertise, while providing MassMutual with valuable insights into new trends, technologies, and solutions that are being developed around the world,” Russell concluded.

MMV was first launched in 2014 and has backed nearly 40 companies in North America, Europe, Israel, and SEA. Seven of those companies are part of MMV SEA’s current portfolio.

MMV SEA also works with other MassMutual entities in the region. It leverages on their relationships to help portfolio companies identify potential opportunities for expansion and strategic partnerships.

Managing Directors Ryan Collins and Anvesh Ramineni lead the SEA operations of the firm. Both executives bring their investment and operating experiences in the region and are charged with sourcing and executing investment opportunities.

Ramineni said that the new fund will give MMV the ability to invest in an additional 15 to 20 companies and allow it to further support its portfolio companies as they grow.

MMV SEA recently hired associate Carlos Jo Loo, a former Senior Associate at the Boston Consulting Group (BCG) SEA. He had previously worked extensively with BCG Digital Ventures, where he co-founded two startups in the energy and industrials sectors.

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