Tokio Marine launches venture capital fund

Tokio Marine Holdings Inc. said Wednesday it has launched Tokio Marine Future Fund, a corporate venture capital fund, with a $42 million initial investment.

Palo Alto-based Tokio Marine Future Fund will focus on early-stage investments in seed stage through Series A companies in sectors including insurtech, fintech, mobility, health care, cybersecurity, artificial intelligence, and automation and climate risk.

Investments will range from $500,000 to $3 million and the fund has made several early investments to date, including TrustLayer, an insurtech company automating insurance verification, the statement said.

Tokio Marine Future Fund has partnered with World Innovation Lab LLC, another Palo Alto-based venture capital firm, to act as fund manager.

Yoshi Yoshida, corporate venturing lead in Palo Alto for Tokio Marine Holdings Inc., called investment opportunities for early-stage innovative startups in the United States and emerging markets “immense.”