Northwestern Mutual Future Ventures, the venture capital arm of Northwestern Mutual, has announced a new $150 million fund targeting emerging and growth-stage companies in the fintech and insurtech space. The commitment brings the firm’s total venture capital allocation to $350 million and represents the third fund since the program launched in 2017.
Fund III will focus on forging new partnerships that enhance technology capabilities designed to strengthen relationships between clients and financial advisors. The fund will also provide follow-on capital to help portfolio companies scale and expand their marketing efforts.
Since its inception with a $50 million Fund I, Northwestern Mutual Future Ventures has invested in more than 50 companies. Fund II, launched in 2019 with $150 million in capital plus additional reserves, established the firm’s model of pairing investment with strategic partnership, including pilots and deployments of innovative solutions within Northwestern Mutual’s own operations. A notable portfolio company, Chime, completed its IPO in June 2025.
Among the newest additions to the portfolio is Levitate, an AI-driven relationship-marketing platform founded by Jesse Lipson, who previously founded ShareFile, which was acquired by Citrix in 2011. Levitate integrates with email, survey, and CRM workflows to automate routine tasks and allow teams to focus on higher-priority work.
Northwestern Mutual serves more than five million clients through a nationwide network of financial professionals and manages more than $780 billion in total assets across its institutional and retail investment portfolios.
KEY QUOTES:
“This renewed commitment reinforces our belief in the power of innovation, and the exciting startups helping to transform how Americans achieve financial security. The funds expand our ability to partner with high-growth companies, delivering technology, collaboration, and value to our more than five million clients and our nationwide network of trusted financial professionals.”
Michael Sias, Vice President, Corporate Development and Venture, Northwestern Mutual
