Northwestern Mutual Life Insurance Company says it will invest $150 million in a new venture capital fund, Northwestern Mutual Future Ventures Fund II.
The Milwaukee-based life insurer invested $50 million in an earlier venture capital fund, Northwestern Mutual Future Ventures, in 2017.
A venture capital fund invests in new companies that appear to have a chance to grow rapidly.
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The first Northwestern Mutual venture capital fund has invested $43 million in 14 companies.