Early-stage investor Tenity has completed the first closing of its Tenity Incubation Fund I. Investors include SIX Group, UBS Next and Generali Switzerland, with assets under advisory now reaching CHF 120 million.
The fund aims to be the first institutional investor in fintech and insurtech startups, with particular focus on pre-market companies who have not yet begun or are in the early stages of raising funds.
Investments will take place at angel, pre-seed and seed stages, with hands-on support and network access provided along with funding throughout a four-month incubation programme. These Tenity Flagship Incubation programmes will take place across Europe and Asia.
Tenacity’s fund will consist of a “supersized portfolio” of several hundred companies with broad coverage across fintech and insurtech. LPs will receive both strategic and financial returns, with early-stage investments potentially having a significant impact on the industry. A second closing is expected in Q4 2023.
Maximilian Spelmeyer, chief investment officer at Tenity, comments: "We support founders over several months throughout the incubation programme and use our experience to give them the tools and connections to succeed. With continued commitment from our partners, this year we enhance the Tenity offering through investment, on top of providing access to network and business expertise, introductions to corporate partners, a selection of mentors and our investor network.
“Combined, these factors provide a fertile ground for companies to perfect their product, master go-to-market strategy, and increase their chance of future success.”
