Anthemis venture fund to hold final close before H2 2021

The fund held a first close on $90m in February 2020 and has a target of $300m, according to an SEC filing. It will be dedicated to investing in venture companies in the insurance sector.

Anthemis managing director Kate Sampson said: "While we are on track to hit the final amount within the timeframe, what this year has taught us across the board is that nothing is ever certain. We remain optimistic about the quality of investors we are talking to and the impact we look to make through the fund."

To date, AIVGF I has secured backing from a number of investors such as Aflac Global Ventures, Nürnberger, Sumitomo Life and Daido Life Insurance Company.

The fund terms dictate a final close 18 months from the first close. Sampson said: "The fund remains open for additional investors and we expect to have a final close sooner than the 18 months."

The vehicle's minimum investment is $5m.

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