As the venture capital arm for Liberty Mutual, we invest in early-stage software, platform, and services companies who are reshaping the (re)insurance landscape with a focus on empowering our policyholders, agents, brokers and employees.
Investment Strategy
Fund Size
Liberty Mutual Strategic Ventures is a corporate venture fund backed by Liberty Mutual Insurance. We are currently investing out of a $200M Fund II.
Focus Areas
We invest in areas strategically relevant to Liberty Mutual and its global, diversified footprint across P&C insurance. We do not invest in life or health startups.
- Mobility: Personal, Shared, Commercial, Electrification, Autonomous
- PropTech: Residential, Commercial, Construction Tech, Risk Management, Sustainable Materials, Climate Risk
- FinTech & InsurTech: Value Chain Enablement, Reinsurance & Alternative Capital, Embedded Distribution, Parametric Insurance, Data
- SMB & Enterprise: AI, Cybersecurity, Distribution, Enablement Tools, ESG, Energy Transition
Geographic Focus
We primarily focus on the United States and Europe, but also evaluate startups that operate across Liberty Mutual’s global footprint.
Investment Stages
We primarily invest Seed through Series B with a $750K to $5M initial check size.
Round Structure
We have the ability to lead rounds but prefer to co-invest alongside other venture funds.
Portfolio Companies
Azibo is a one-stop-shop financial services platform for the rental property market
Blueprint Title offers a modern approach to title insurance and closing, easing the process for buyers, sellers, and service professionals.
Driver is a next generation mobility safety platform.
Edge Case Research is committed to building safety into autonomous systems from the ground up.
Homee is an on-demand home services platform that provides homeowners and property managers with instant access to skilled service providers.
Hyro is a conversational Artificial Intelligence (“AI”) platform for chat and voice that is delivering zero-touch virtual AI assistants for information-dense industries.
Karamba Security provides cybersecurity solutions for connected and autonomous vehicles.
Kinetic is a digital auto repair company that provides automated calibration and service for electric and sensor-equipped vehicles.
LeaseLock replaces security deposits for renters with an insurance product.
Pyte provides a secure data collaboration solution that enables enterprises to maximize data utilization and insights without compromising on privacy or data integrity.
Realm helps homeowners maximize their property value.
Roots Automation is an end-to-end process automation platform building Digital Coworkers for enterprises in insurance, financial services and healthcare.
Snapsheet is a virtual auto claims estimating and settlement platform.
Super is a subscription service that provides care and repair for your home.
Tarci is a continuous intelligence engine that generates dynamic SMB data.
Trunk Tools is an AI-based construction-technology company automating the process of ingesting, organizing, and querying project-specific data and documentation for commercial construction projects.
Turo is a car rental marketplace where travelers can rent cars from local car owners.
Exits
August Home is the leading provider of smart locks and smarter home access products and services that make life more simple and secure.
Dispatch enables enterprises and service professionals to deliver modern service experiences.
Notion is home awareness simplified. Sensors work seamlessly together to monitor almost anything in your home through a simple app.
Roadster provides an automotive eCommerce software solution that enables dealerships to offer a completely digital car buying experience.
Sponsorships
Liberty Mutual is a proud sponsor of Visible Hands, which funds underrepresented founders at the earliest stages of company-formation and provides personalized support as the founders build high-growth startups.
Our Team
Russ MacTough
Managing Director
Russ MacTough is Managing Director of Liberty Mutual Strategic Ventures, the corporate venture capital arm of Liberty Mutual Insurance. Prior to joining Liberty Mutual he was a Vice President with Morgan Partners, a Fintech-focused middle market investment bank, where he led M&A transactions primarily in the insurance technology sector. Before that Russ worked at Silicon Valley Bank in the San Francisco Bay Area. At SVB he helped build the bank’s advisory services group.
Josh Cohen
Director
Josh Cohen is a founding member of LMSV, joining the team in 2015. As a Director, Josh is responsible for sourcing, due diligence, legal negotiation, and post-deal management. Prior to joining the fund, Josh focused on competitive intelligence and strategy within the insurance market at Liberty Mutual. Prior to joining Liberty Mutual, Josh worked at Ernst & Young and is a licensed CPA. Josh is a graduate of Boston University with a degree in Finance and Accounting.
Dave DeSisto
Director
Dave DeSisto is a Director at LMSV and joined the team in 2017. As a Director, Dave is responsible for sourcing, due diligence, legal negotiation, and post-deal management. Prior to joining the fund, Dave was an Associate at Wells Fargo where he worked with private equity firms to structure and underwrite debt facilities for leveraged buyouts, dividend recapitalizations, and acquisition financings. Prior to Wells Fargo, Dave worked at PwC in their Management Consulting practice. Dave is a graduate of Bentley University with a degree in Corporate Finance and Accounting.
Mary Tobin
Principal
Mary joined the LMSV team in 2019 and works to identify, diligence, and support new venture investments. Mary is a visiting professor at Tufts University’s Experimental College, where she teaches an undergraduate class on the startup innovation ecosystem, and she sits on the board of the New England Venture Network. Prior to joining the fund, Mary built partnerships and programs to improve the venture ecosystem via the New England Venture Capital Association. Mary co-founded her first startup during undergrad at Northeastern University where she also started still-running TEDxNortheasternU.
Alex Ahmadi
Principal
Alex joined the LMSV team in 2022 and is responsible for sourcing, due diligence, legal negotiation, and post-deal management. Prior to joining the fund, Alex was a Senior Financial Analyst on the Global Portfolio & Risk Management team within Liberty, where he focused on global capital management, competitive intelligence, enterprise risk management, and internal reinsurance. Prior to his last role, Alex was part of the Financial Management Program at Liberty where his first rotation was as a part of LMSV. Alex is a graduate of the Isenberg School of Management at UMass Amherst with a degree in Finance.