Transverse Insurance Group (“Transverse”), the fast-growing P&C program carrier launched in 2018, announces the final closing of Transverse Ventures Fund I, a new venture capital fund leveraging the infrastructure and team of Transverse.
The fund is supported by multiple strategic limited partners including insurance carriers and executives, each bringing expertise and capabilities to each of the fund’s portfolio companies that are disrupting the insurance landscape.
“We built Transverse to be the ideal partner for sophisticated MGAs as well as other leading origination, underwriting, and technology platforms. We are excited to leverage the capabilities of a modern program carrier as well as the insurance expertise represented by our team”, said Transverse Ventures Co-Managing Partner, Dave Paulsson.
Transverse Ventures Fund I is mainly focused on making early-stage investments in insurance and adjacent technologies impacting the insurance industry.
Co-Managing Partner, Erik Matson, commented that “as a venture capital fund backed by a program carrier, we have a rare ability to drive value creation in portfolio companies spanning the time from initial investment through significant evolutionary growth.” Transverse is a natural partner for Insurtech companies, who may require licensing, broad operational expertise, or market access to fully realize the potential of their vision.
For more information, please visit www.transverseventures.com.
About Transverse Insurance Group (Transverse)
Transverse Insurance Group is a hybrid fronting carrier serving the program, MGA, and reinsurance markets with offices in New York, New Jersey, and Texas. Transverse is backed by Virgo Investment Group and partner investors. Founded in 2018 by Erik Matson, CEO, and Dave Paulsson, President, Transverse is a global facilitator connecting and enabling partners through access to risk capacity and alternative capital on admitted and surplus lines paper. For more information, please visit www.transverseinsurance.com.
