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About MS&AD Ventures
MS&AD Ventures is a venture capital firm founded in 2018. It is primarily based out of Menlo Park, United States. As of Sep 2026, MS&AD Ventures is an active investor, having invested in 112 companies, with 8 new investments in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to FinTech and High Tech. Most recently it participated in the $***** Seed round of Axo Longevity Overall, MS&AD Ventures portfolio has seen 4 unicorns, 2 IPOs and 16 acquisitions including key companies like Tide, Next Insurance and Rubrik. A lot of funds co-invest with MS&AD Ventures, with names like Plug and Play Tech Center sharing a substantial percentage of its portfolio. MS&AD Ventures has team of 23 people including 6 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 4 more
Portfolio Acquisitions
Portfolio Soonicorns
Deals in last 12 months
MS&AD Ventures' List of Top Investments
MS&AD Ventures has a portfolio of 112 companies, including 4 unicorns. Their most notable investments are in CRUST Group and WorldCover.Their portfolio spans across United States, United Kingdom, Germany and 12 more locations. They have invested in Enterprise Applications, FinTech, High Tech and 20 other sectors, across stages such as Seed, Series A and 4 more. Here is the list of top investments by MS&AD Ventures:
1. Tide
Digital business banking platform. It provides entrepreneurs, freelancers, and small companies with a digital business account and a suite of financial tools. It enables users to manage payments, issue invoices, track expenses, and access bookkeeping and tax filing features designed to support compliance with local regulations such as Making Tax Digital. It also offers additional services including business loans, payroll tools, card readers, savings accounts, and company registration support, aiming to simplify day-to-day financial operations and reduce administrative overhead for small businesses.
Key facts about Tide
- Founded Year: 2015
- Location: London (United Kingdom)
- Annual Revenue: £100M - £500M as on Dec 31, 2024
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $181M
- Employee Count: 3,462 as on Sep 30, 2026
- Investors: TriplePoint Capital, MS&AD Ventures and 46 Others
- Latest Funding Round: Series C, Sep 22, 2025, $*****
- Highlight: Editors' Pick
Provider of online small business insurance policies. It offers various coverages, including general liability, workers' compensation, commercial property, and professional liability insurance. Policies are tailored to different business types and professions. The company provides online quotes and instant access to certificates of insurance. Claims adjudication is handled in-house for faster processing. The platform uses AI-based technology to streamline the process and provide efficient service.
Key facts about Next Insurance
- Founded Year: 2016
- Location: Palo Alto (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $1.12B
- Employee Count: 549 as on Jun 30, 2026
- Investors: Founders Circle Capital, CapitalG and 27 Others
- Latest Funding Round: Series E, Oct 02, 2023, $*****
- Highlight: Acquired
3. Rubrik
Provider of cyber resilience platform for data and identity security. The platform offers data protection through immutable backups, threat analytics for cyber threat detection, and identity security for multi-IdP environments. It provides cyber recovery solutions to restore operations, along with features like anomaly detection and threat monitoring. The platform supports cloud, on-premises, and SaaS environments.
Key facts about Rubrik
- Founded Year: 2014
- Location: Palo Alto (United States)
- Stage: Public
- Total Funding till date: $553M
- Employee Count: 5,196 as on Sep 30, 2026
- Investors: ADS Ventures, Section Partners and 51 Others
- Latest Funding Round: Series F, Aug 17, 2021, $*****
- Highlight: Public
4. Carro
Online platform for buying, selling, and managing used cars, providing a full-stack service for car ownership. It is online platform that offers a full-stack service for car ownership, enabling users to buy, sell, and own vehicles in a trustworthy and transparent manner.
Key facts about Carro
- Founded Year: 2015
- Location: Singapore (Singapore)
- Annual Revenue: SGD 1B+ as on Mar 31, 2023
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $686M
- Employee Count: 1,381 as on Sep 30, 2026
- Investors: SoftBank Group, Temasek and 41 Others
- Latest Funding Round: Series C, Sep 17, 2025, $*****
- Highlight: Editors' Pick
5. Thimble
Thimble provides online liability insurance for small businesses. It offers coverage for contractors, freelancers, cleaners, photographers, beauty professionals, personal trainers, janitors, and more. It features on-demand policies based on hours, days, and months.
Key facts about Thimble
- Founded Year: 2015
- Location: New York City (United States)
- Stage: Acquired
- Total Funding till date: $29M
- Employee Count: 56 as on Sep 30, 2026
- Investors: Graph Ventures, MS&AD Ventures and 13 Others
- Latest Funding Round: Series A, Oct 15, 2019, $*****
- Highlight: Acquired
MS&AD Ventures' Year-on-Year Investment Trends
MS&AD Ventures has invested in 112 companies over the last 8 years, with an average of 8 new investments annually in the last 5 years. In 2025, it made 4 investments, while as of Sep 2026, it has made 8 investments in this year. Its most recent first time investment was in Axo Longevity and most recent follow-on round was in Credi Linq.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 8 | 0 | 8 |
2025 | 2 | 2 | 4 |
2024 | 4 | 1 | 5 |
2023 | 11 | 1 | 12 |
2022 | 12 | 6 | 18 |
2021 | 11 | 5 | 16 |
2020 | 5 | 2 | 7 |
2019 | 9 | 0 | 9 |
2018 | 3 | 0 | 3 |
MS&AD Ventures' Investments by Stage
MS&AD Ventures has made 30 investments in Seed stage with an average round size of $5.04M, 20 investments in Series A stage with an average round size of $12.8M and 12 investments in Series B stage with an average round size of $24.8M.Stage of entry | No. of Investments |
|---|---|
Seed | 30 |
Series A | 20 |
Series B | 12 |
Series C | 1 |
Series D | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
MS&AD Ventures' Investments by Sector
MS&AD Ventures has a diverse portfolio, with companies operating in the FinTech, Enterprise Applications, InsurTech, Consumer and Vertical SaaS. Notably, it has invested in 109 Tech companies, 82 Enterprise (B2B) companies, 68 Software companies and at least 41 companies focusing on Saas.Sector | No. of Investments |
|---|---|
FinTech | 37 |
Enterprise Applications | 34 |
InsurTech | 20 |
Consumer | 12 |
Vertical SaaS | 11 |
Others | 71 |
Note: We have considered here, only first round of investments
MS&AD Ventures' Investments by Geography
MS&AD Ventures has made most investments in United States (28), followed by Germany where it has made 9 investments.Country | No. of Investments |
|---|---|
United States | 28 |
Germany | 9 |
Singapore | 7 |
United Kingdom | 7 |
France | 2 |
Others | 10 |
Note: We have considered here, only first round of investments
MS&AD Ventures' recent investments
MS&AD Ventures has made 8 investments in 2026 so far. Axo Longevity and Skalar are the latest among them.Here are the most recent investments by MS&AD Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 15, 2026 | - | Seed | 4468 | [+3] | |
Jul 14, 2026 | Germany | Seed | 8135 | [+4] | |
Apr 20, 2026 | Germany | Seed | 1389 | [+1] | |
Apr 15, 2026 | Sweden | Seed | 6478 | [+2] | |
Apr 02, 2026 | France | Seed | 2703 | [+5] |
Unicorns in MS&AD Ventures' Portfolio
MS&AD Ventures has 4 unicorns in its portfolio - Flex, Tide, Assured Insurance Technologies and others. The most recent unicorn in their portfolio is Flex. It became a unicorn in 2026, 3 years after MS&AD Ventures first invested in it.Here is a list of unicorns in MS&AD Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
59 | Internet digital bank for business banking | 2020 | Miami | Series B | abrrczf | ||
80 | Provider of digital financial management tools for small business owners | 2015 | London | Series C | pp{zjqs | ||
51 | Provider of SaaS claims processing solutions for P&C insurers | 2019 | Palo Alto | Seed | xrmowfx | ||
74 | Online platform for buying, selling, and managing used cars, providing a full-stack service for car ownership | 2015 | Singapore | Series C | gfxdbcs |
IPOs and Publicly Listed companies in MS&AD Ventures' Portfolio
2 of MS&AD Ventures' portfolio companies have become public. Rubrik got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Apr 2024 at marketcap of $5.63B and Hippo got listed on the New York Stock Exchange (NYSE).Here are MS&AD Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 25, 2024 | - | - | 6598 | |
Jan 15, 2021 | Nov 24, 2020 | Series F | 8843 |
Acquired companies in MS&AD Ventures' Portfolio
16 companies from MS&AD Ventures' portfolio have been acquired. The most recent acquisition was Accelerant in Aug 2026 by Thoma Bravo for $*****.Here are MS&AD Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 13, 2026 | Jan 12, 2022 | Series D | 3389 | |
Jul 07, 2026 | - | - | 5552 | |
Jun 04, 2025 | Sep 06, 2023 | Series A | 7551 | |
May 07, 2025 | - | - | 5410 | |
Mar 20, 2025 | - | - | 9643 |
Team profile of MS&AD Ventures
MS&AD Ventures has a team of 23 members including 6 Partners and 5 Principals located in United States, Japan and 1 more location. MS&AD Ventures' team does not sit on the board of any company as of now.Here is a list of top team members in MS&AD Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | - | - | ||
Partner | Palo Alto | - | - | |
Partner | Menlo Park | - | ||
Partner | Washington | - | ||
Partner | San Francisco | - | ||
Partner | United States | - | ||
Partner | Tokyo | - | ||
Principal | Lisbon | - | ||
Principal | Tokyo | - | ||
Principal | San Francisco | - | ||
Principal | Tokyo | - |
Co-investors of MS&AD Ventures
Over the past 8 years, 652 investors have co-invested in MS&AD Ventures's portfolio companies. This includes funds and angels.
- Invested before MS&AD Ventures: Y Combinator, Redstone and 247 others have invested in rounds before MS&AD Ventures. There are 6 companies where Y Combinator has invested before MS&AD Ventures and 3 companies where Redstone has invested before MS&AD Ventures.
- Top Co-investors of MS&AD Ventures: 227 investors entered a company along with MS&AD Ventures. These include investors like Plug and Play Tech Center (4 companies).
- Invested after MS&AD Ventures: A total of 176 investors have invested in MS&AD Ventures's portfolio after their investments. Top Investors include MS & AD (3 companies), Tiger Global Management (2 companies) and Insight Partners (2 companies).
Recent News related to MS&AD Ventures
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