Eos Venture Partners to raise $100m debut fund for InsurTech

Eos Venture Partners (Eos), the specialist venture capital investors in insurance technology (InsurTech), today announced their intention to raise a $100m debut fund, EVP I. The fund will be one of the first global, independent InsurTech investment funds targeting early and growth stage investments.

Eos was formed in 2016 and has made eight InsurTech investments, with six going on to successfully raise up-rounds. Notable investments include Neos, a connected home insurance proposition, which raised $7m from Aviva and Munich Re, and Digital Fineprint, a business that uses social media to enhance the insurance process, which raised $2.7m from PenTech Ventures.

Eos has three General Partners: Sam Evans, Jonathan Kalman and Carl-Georg Bauer-Schlichtegroll. Carl was previously Head of the Financial Institutions Group at JP Morgan and Credit Suisse, Sam was previously Head of the Insurance Deal Advisory Practice at KPMG and Jonathan is an experienced VC investor with multiple successful exits. The firm currently has offices in London and Philadelphia, and this year will launch an InsurTech innovation centre in India.

Sam Evans commented, “InsurTech is one of the fastest growing investment sectors globally and is a compelling space in which to invest. There are tremendous opportunities to drive innovation and Eos is positioned at the heart of this new and exciting sector. The global insurance industry is facing an unprecedented period of change, that will see a trillion-dollar value shift between winners and losers.” 

Eos also announced a Limited Partner (LP) commitment of $20m in EVP I from a global insurer, with whom it has entered into a strategic partnership to accelerate their innovation strategy, and a second $10m commitment from a European insurer.

Sam added, “We are delighted to have secured two commitments and to have our lead investor in place. We are already working with our LP’s to help them harness the potential of InsurTech to supercharge their business.”

The core of Eos’ business model is close strategic partnerships with their LPs to drive return on investment and innovation. Eos works closely with its LP’s to develop, refine and execute a tailored innovation strategy to drive growth, improve profitability and enhance customer propositions. 

Carl Bauer concluded, “We provide our LP’s with strategic and financial exposure to key developments in InsurTech. They can leverage their relationship with Eos to extend the reach, capabilities and experience of their team to help drive forward key innovation related projects.”