About This Fund
HSB Fund II is a $125 million venture fund managed by Munich Re Ventures (MRV), the venture capital arm of Munich Re Group. This fund is backed by its founding limited partner, HSB, a specialty insurer within the Munich Re Group. As MRV's fifth fund and the second sponsored by HSB, HSB Fund II brings MRV's total assets under management to $1.2 billion. The fund focuses on investing in startups that operate within the Built World sector, emphasizing technologies that de-risk and optimize performance in property, industry, and related supply chains. Key investment areas include equipment technology, cybersecurity, and innovations aimed at enhancing infrastructure resilience. HSB Fund II aims to support companies that contribute to predictive maintenance, operational efficiency, and the durability of critical infrastructure and industrial assets. HSB Fund II builds upon the success of its predecessor, HSB Fund I, which supported companies like At-Bay, Augury, and Helium Mobile—firms that have achieved significant milestones, including unicorn status and strategic acquisitions. The fund is managed by Jennifer Place, Principal at MRV, who brings a decade of experience in investing across the Built World, Energy, and Industrial sectors. Adam Care, VP & Head of Portfolio Development for the HSB Funds, will focus on cultivating partnerships between MRV's portfolio companies and HSB.