Deals

Allianz Boosts VC Fund to $1.1 Billion for Tech, Insurance Deals

Allianz X was launched in 2016 with 430 million euros to spend
Unit has invested in startups including Go-Jek, N26, Lemonade

Allianz X CEO Nazim Cetin discusses increasing the size of its tech investment fund to $1 billion euros.(Source: Bloomberg)

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By Giles Turner

February 20, 2019 at 7:45 AM UTC

This article is for subscribers only.

European insurer Allianz SE is increasing the size of its tech investment fund to 1 billion euros ($1.1 billion), making it one of the largest corporate-backed venture funds in Europe.

Allianz X was launched in 2016 with a 430 million-euro checkbook and has done about 15 deals, including an investment in Indonesian ride-hailing firm Go-Jek, German mobile bank N26, and U.S. insurance startup Lemonade.