Liberty Mutual Strategic Ventures

Liberty Mutual Strategic Ventures (LMSV) is the corporate venture capital arm of Liberty Mutual Insurance, based in Boston, MA. Currently investing out of a $200M Fund II (Fund I was $150M, launched in 2016), LMSV backs early-stage software, platform, and services companies reshaping the P&C (re)insurance landscape. Investment focus areas include Mobility (personal, commercial, electrification, autonomous), PropTech (residential, commercial, construction tech, climate risk), FinTech & InsurTech (value chain enablement, embedded distribution, parametric insurance), and SMB & Enterprise (AI, cybersecurity, energy transition). LMSV does not invest in life or health startups. It primarily invests Seed through Series B with an initial check size of $750K–$5M, and while it has the ability to lead rounds, it prefers to co-invest alongside other venture funds. Geographic focus is primarily the United States and Europe, with consideration for startups operating across Liberty Mutual's broader global footprint.