State Auto creates $25 million VC fund to invest in financial and insurance technology


 Story excerpt provided by Columbus Business First.

Written by Carrie Ghose.

State Auto Financial Corp. is putting $25 million into a corporate venture capital fund for financial and insurance technology.

It’s the largest single fund under management at Rev1 Ventures, which invests in, advises and provides training and business services for technology companies. State Auto also is among several corporate investors in Rev1’s main $22 million fund.

The Columbus auto insurer’s fund is five times the size of any other in Central Ohio backed by just one limited partner. Columbus-based Rev1 manages a $5 million fund for OhioHealth Corp. and a $5.5 million fund for Nationwide Children’s Hospital, among others.

Click here to read the complete article.

Originally published September 26, 2017.

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