A number of investors have contributed to the fund, including Bain Capital Ventures and Century Equity Partners, alongside a number of partners from the insurance and commercial banking sectors.
The fund will focus primarily on the North American market, with investments of between $200,000 and $500,000 for seed rounds, and between $1-3 million for Series A rounds.
“What also attracted us to Altai was their operating experience and knowledge of the Insurtech space,” said Matt Harris, Partner, Bain Capital Ventures. “We’re looking forward to collaborating with them on early-stage opportunities and incubations in this area.”
“We deeply believe in a principles-driven business model with customer centricity at the heart of it and, as a result, have constructed a platform that can drive substantial and differentiated value for our founders and strategic partners,” said Oleg Ilichev, Founder and Managing Partner of Altai Ventures.
Insurtech Goose Insurance Services successfully closed a $4 million Series A funding round to support the expansion of its ‘super app’ last week.