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.
The first Northwestern Mutual venture capital fund has invested $43 million in 14 companies.
Northwestern Mutual says the new fund, like the old fund, will ”engage startups whose technologies have the potential to further transform how people experience and achieve financial security.”