🚨 $VYGG/VY Global Growth: A star-studded SPAC with global focus and outreach in Europe & Asia.
- $500m raised
- Led by Alexander Tamas (VY Capital)
- Team of seasoned international Silicon Valley entrepreneurs
- Targeting tech/internet businesses
Time for a thread 🧵⬇️
VY Capital is a VC firm founded by Alexander Tamas.
Tamas was a partner at Digital Sky Tech (DST) Global, Yuri Milner's (Mail.Ru) Russian VC firm.
"He is a walking encyclopedia of Internet business models and strategies. He's on speed-dial for everyone trying to build the most successful, highest-scale, global Internet companies today."
In Nov 2020, Mitsui Sumitomo Insurance led a $350m fundraising round in Hippo.
MSI is a Japanese insurance conglomerate with ~50% market share and ~$1bn in annual revenue.
Upon their investment, they published a two-pager thesis.
Breakdown below ⬇️🧵
MSI are aiming to promote digitalization that will contribute to improving customer experience.
Through $RTP/Hippo, MSI will provide relief and safety to its customers by enhancing how natural disasters our addressed, and providing advanced services for disaster prevention
MSI aims to leverages $RTP/Hippo's strength in data and tech based on methods of risk sub-divided underwriting, smart home devices, and meteorological data.
🔎 $RTP/@hippo_insurance: SaaS harnessing AI to revolutionize the home insurance industry 🦛🏠
- Everything you need to know
- One-stop-shop for all things smart/connected home
- Higher growth & revenue than closest public competitor $LMND/@Lemonade_Inc
Time for a thread 🧵⬇️
Hippo was founded in 2015 by Assaf Wand, an ex-McKinsey consultant and Eyal Navon, serial entreprenuer and software engineer.
Wand's interest in insurance was inspired by his father's lengthy career in the "antiquated" insurance industry. $RTP
After two years of R&D, fundraising, and product development, Hippo launched in April 2017 in California.
The company's marketing was centered on the delivery of a 60-sec quote for insurance policies, transparent process, and smart home integration.