Nationwide is expanding its investment fund that targets high-growth startups building products, services, and technology that can benefit Nationwide customers.
Nationwide’s original $100 million fund drew interest from startups looking to partner with Nationwide not only for capital but access to customers, expertise, and its Fortune 100 brand recognition. Nationwide is looking to invest in companies innovating in digital infrastructure, home solutions, living in retirement, small and medium-sized businesses, telematics and fleet management, and cybersecurity and risk. So far, Nationwide’s venture capital team has invested in 25 companies and has helped facilitate 31 partnerships between startups and Nationwide business units.
What does this mean? Columbus has already established itself as an insurtech startup hub with recent exits like Root Insurance and Bold Penguin. However, with an extra $250 million in dry powder, Nationwide Ventures has the capital to help boost Columbus fintech and cybersecurity companies potentially adding another industry or two to the city’s startup brand story.
