The rest of the 100 (in alphabetical order): Jacqueline LeSage Krause, Munich Re/HSB Ventures
As managing director of Munich Re/HSB Ventures, Jacqueline LeSage Krause has since late 2014 accelerated a typical corporate venturing launch process by dint of her experience.
She was previously vice-president of innovation and corporate venture capital at US-based insurer Hartford Financial Services Group but left in 2012 after four years as the company embarked on a restructuring plan to sell a number of businesses and focus on the core.
She had been responsible for both internal innovation, incubating new offerings, customer experiences and business models through the Innovation Studio, and external innovation, investing venture capital in startups and forming strategic alliances through Hartford Ventures. LeSage Krause founded Hartford Ventures after being founder and CEO of a digital video startup and spending six years as a consultant with AT Kearney.
Now at Munich Re/HSB Ventures, based in San Francisco, LeSage Krause said 2016 had been “an eventful year and more is to come”.
Its most recent deals include Next Insurance, a US-based online insurance platform focused on small and medium-sized enterprises, which this month raised $29m in its series A round involving Markel and Nationwide Insurance as well as Munich Re/HSB Ventures as new backers.
After starting with HSB as its sole internal business partner and then expanding to include the rest of the reinsurance group, including the newly formed Munich Re Digital Partners, LeSage Krause said her ventures team was now expanding into Ergo, the other business group of Munich Re.
She added: “As part of this, we are in the process of setting up our new fund structure and capital commitment, as well as hiring in both San Francisco and Europe. We have a new office in London, led by Sophie Dingreville, who joined us from Iris Capital.”
However, before its expansion to include Ergo, LeSage Krause said: “Munich Re/HSB Ventures exists to help create the future for Munich Re and HSB, while at the same time enabling the future for our portfolio companies and funding R&D for our industry.
“Over the past year, we have deepened and expanded our internal business relationships, as well as taken a more active role in leading deals. This combination has amplified the strategic value to both our portfolio companies and Munich Re businesses.”
She said two deals exemplified its model. First, its investment in Relayr and coordination with its internal internet-of-things (IoT) strategy.
LeSage Krause said: “HSB drives the commercial and industrial IoT strategy for Munich Re. Our team is highly involved in the development of the strategy and building of the business via transactional innovation, including investments, partnerships and M&A. Last autumn, Munich Re/HSB Ventures led the series B round for Relayr, our fourth IoT portfolio company.
“Along with the investment, we crafted a significant partnership with Relayr for bringing a new-to-the-world type of insurance to the market, creating a unique selling proposition for Relayr and opening up a new market for HSB and Munich Re.”
Her second example was in insurtech. “In spring 2016, Munich Re formed the Munich Re Digital Partners business specifically to partner insurtech companies to give them the insurance parts and pieces they need to launch a product, which vary by state and country.
By the time of the symposium, LeSage Krause said she expected to have 11 companies in its portfolio, mostly in IoT and insurtech, with investments ranging from $500,000 to $15m, spanning all stages, and spread across North America and Europe.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.