Altai Ventures has closed a USD 53 million FinTech and InsurTech fund in early-stage venture capital. The fund will focus on the North American market with investments ranging from USD 200,000 to USD 500,000 for seed rounds and USD 1 million to USD 3 million for Series A rounds.
Bain Capital Ventures, Century Equity Partners invested in the fund along with a number of limited partners in property and casualty, life and annuity, insurance brokerage and commercial banking.
Oleg Lichen, Managing Partner, Altai, said, “Financial institutions represent a multi-trillion industry dollars, which is still in the early stages of technological transformation.”
Read more: Altari Ventures launches fintech and insurtech fund
