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Israeli venture capital firm FinTLV raised $ 120 million for new funds investing in global growth rate insurance companies and financial technology.
Investors include Japan MS&AD Insurance Group, FWD Limited of Hong Kong and a few of Israel’s largest museums, according to a statement Sunday.
Earlier FinTLV funds invested about $ 200 million last year, bringing in $ 50 million each in two unsustainable one-offs – Hippo Insurance and Next Insurance. He also participated in a $ 200 million fundraiser at software company Unqork led by BlackRock Inc.
Insurtech Investment has risen in recent years as startups have introduced more efficient services. Capturing revenue in the heavily regulated industry will be an uphill climb, however, with most tech companies pursuing partnerships with major insurance outlets, which according to Bloomberg Intelligence.