USA – Altai Ventures, a Westport, CT- and New York City-based early-stage venture capital firm, closed Altai Ventures Fund II, LP, at $53m.
Investors included Bain Capital Ventures, Century Equity Partners, and other LPs across property and casualty insurance, life insurance and retirement, insurance brokerage, and commercial banking.Founded by Oleg Ilichev, Altai Ventures is an early-stage venture capital firm specializing in InsurTech, FinTech, and enterprise software for financial services. The firm mainly invests in Series Seed and Series A rounds, where it can leverage its operating expertise, deep industry knowledge, and strategic LPs to drive immediate, meaningful value creation.The investments are primarily focused on the North American market, with a range of $200K – $500K for Seed rounds and $1M – $3M for Series A rounds. Along with its core venture capital strategy, Altai also incubates businesses focused on pain points not addressed in the marketplace. Last year, Altai partnered with Accelerant, Bain Capital Ventures, and Runyon Design to launch Reserv, a third-party claims administrator (TPA) using AI and automation technology to bring efficiency and simplicity to the labor-intensive claims handling process. Some of the companies Altai has backed and has provided strategic guidance to include:23/02/2023
