American Family Ventures

American Family Ventures is the corporate venture capital arm of American Family Insurance, established in 2010 to invest in the future of the insurance industry. The firm operates across the full investment spectrum from incubation through growth stage, focusing on innovations that transform insurance product lines, adjacent vertical markets, and enabling technologies. With over $700 million in assets under management and limited partners representing $70 billion in premium, AFV has evolved from a single-LP model into a multi-limited partner institutional firm that brings both carrier expertise and venture capital perspective to its portfolio companies.

Founded in 2010 as an internal innovation arm of American Family Insurance, AFV emerged from the recognition that insurance was undergoing profound transformation. The firm was designed to capitalize on this moment by positioning itself as a venture partner of choice, uniquely bridging the gap between established insurance carriers and innovative startups. Over its 16-year history, the firm has developed deep expertise combining 50+ years of venture capital experience with 120+ years of insurance industry knowledge across its team, allowing it to review over 1,500 companies annually and identify the most promising opportunities.

AFV's portfolio encompasses more than 100 active investments spanning core insurance innovations, adjacent vertical markets, and enabling technologies. Notable portfolio companies include Clearcover, a digital-first auto insurance company; Elysian, which transforms claims processing with computer vision and AI; Wyze, a smart home IoT company; Venteur, which helps employers offer personalized health benefits; LeaseLock, providing lease insurance; and Turtlemint, a mobile platform for insurance agents. The firm has also achieved successful exits, including the acquisition of Networked Insights by American Family Insurance in 2017, Life360's IPO on the Australian Stock Exchange in 2019, and Neat Capital's acquisition by Lower.com in 2024.

The firm maintains offices in Boston, Madison, Minneapolis, New York, and Philadelphia, with a team led by Head of American Family Ventures Eyal Karsh and supported by experienced investment professionals including managing directors, principals, and portfolio managers. AFV's investment approach typically involves first checks ranging from $250,000 to $10 million, with the firm providing not only capital but also strategic guidance, industry connections, and operational expertise drawn from its parent company's extensive insurance background. The firm's advisory network and platform services further support portfolio companies in navigating the complex insurance landscape and scaling their operations.