Innospark Ventures

Supporting founders and teams focused on the horizon. How we help. We consider it an honor when companies choose to partner with us, and it is this mentality that serves as our North Star and informs everything we do as a firm. Transparency, candor, and integrity are hallmarks of how we operate. We are active partners who provide the full range of support – strategic, operational, and financial – with a laser-focus on guiding a company to the next stage in its evolution. How we’re different. We work with teams from anywhere in North America, but – where possible – we leverage our location to create additional value. Decades of walking some of the more opaque corridors in the country have resulted in unique access and connections, and we bring this network to bear for each of our companies. This ecosystem can be esoteric and nuanced, but with over sixty years of combined experience as operators, entrepreneurs, and investors, it’s safe to say we speak the language. How we allocate capital. We invest in compelling early stage technology companies, but since nomenclature often varies, this warrants clarity and points of emphasis. $2 to $4 million: We typically invest $2-$4m as part of $3-$12m financings, and we prefer to lead whenever possible. Enterprise-First: We are exclusively B2B focused, so B2C or e-commerce aren’t for us. If supplementary, public sector revenue is a plus. Real Traction: A subjective notion, but we look for evidence of satisfied customers buying products at an accelerating rate.

SCOR Ventures is the venture investment arm of SCOR Reinsurance, responsible for both investing in and creating partnerships with startups across the insurtech landscape. Since 2017 we have built a global portfolio across three theses: (1) investing in tech-driven underwriting companies (MGAs, carriers) and distributors, (2) software solutions that benefit SCOR and/or our clients, and (3) companies that help people live healthier lives. Our investment scope includes both investments and commercial (re)insurance relationships with startups. We predominantly invest at late Seed / Series A and are interested in a broad range of B2B and B2B2C solutions across MedTech, wellness, wearables, data platforms, and software / AI platforms. What we’re looking for We invest across three thesis areas: Thesis 1: we invest and partner in the ‘Insurers of the Future’: tech-driven underwriting companies (MGAs, carriers) that offer multiple points of digital and business model differentiation across P&C and L&H. We provide direct access to SCOR expertise and our global network to help portfolio companies scale and/or access (re)insurance capacity. With a proven track record of supporting innovative underwriting propositions across multiple lines of business, we understand product development, program structuring, underwriting, pricing and distribution and thus have the capabilities to optimise partnerships between insurtechs and business partners. We predominantly invest at late Seed / Series A. We are class of business agnostic and have partnered with companies across a broad variety of personal and specialty lines. Thesis 2: we invest and partner in software solutions that benefit SCOR and/or our clients. We provide a broad understanding of the interests and pain points of insurers across the world, and the potential to connect companies with insurers through SCOR’s client services initiatives. We predominantly invest later stage vs. Thesis 1 (typically Series A-B) but have occasional appetite for Seed. We prioritise companies: developing data, tools, and methods for obtaining, understanding, pricing and transferring large portfolios of pre-aggregated risks, high-value individual risks such as energy facilities and construction mega-projects, and MGA/coverholder business delivering economically valuable additional services offering a visible outcome which can be used to boost client management or reduce risks. Focus areas include front-end (e.g., underwriting & pricing) policy administration, modelling, risk analytics, and claims developing platforms where insurance has not previously been embedded / distributed, but where SCOR Ventures sees substantial opportunities to close the global protection gap – e.g., marketplaces, “super apps”, b2b fintech, employee benefits working to solve climate and ESG challenges to support the net zero transition and cut emissions for SCOR and SCOR clients. Focus areas include ESG reporting, climate risk analysis and data, carbon offsetting as a solution, circular economy, diversity, equity, and inclusion (DEI) tech, and supply chain transparency. We also see several opportunities in the green insurance product space including solar production or maintenance guarantees, wind input parametric products, solar physical asset damage, cat-bond / ILS and insuring carbon credit projects. Thesis 3: We invest at the intersection of health and technology and partner with companies that help people live healthier lives, deliver in-force or claims outcome improvements, develop new business or add to SCOR’s Knowledge Center capabilities, and assist our clients to transform their offerings. We predominantly invest at late Seed / Series A and are interested in a broad range of B2B and B2B2C solutions across MedTech, wellness, wearables, data platforms, and software / AI platforms. How we operateIntegrated in the wider SCOR business: Direct access to the entirety of SCOR’s capabilities brings unique added value to our portfolio companies. SCOR’s core business has experts in nearly every country, line of business, and functional area, while SCOR Partners bring a broad range of client services, marketing and product development expertise. Mandate: focused on key markets in North America, EMEA and LATAM, with selective deployment in APAC and Africa. Stage and ownership: We invest Seed to Series B. We typically seek greater than 5% ownership at first investment, which may include a board seat (we have led or co-led half of our investments to date). Our investment is intended to make SCOR a meaningful contributor but leave founders room to manage their cap table. We look for a long-term investment and / or commercial relationship but do not seek a fast exit or to ultimately acquire portfolio companies. Partnership approach: we are active supporters of the companies we work with, assisting with technical input, recruitment, capital optimisation and more. The material growth of many insurtech MGAs and carriers has led to increasing demand for (re)insurance capacity; SCOR is a transparent, long-term partner. Insurtechs in SaaS and services segments, meanwhile, have benefited from SCOR’s long-standing client relationships, while SCOR benefits from bringing knowledge, links, and expertise regarding services with genuine value to our clients. We bring value to our portfolio companies by connecting them with other partner companies, as well as with founders and distribution leads in our network. Why partner with SCOR VenturesWe believe in fewer, deeper relationships over the long term. We are flexible and collaborative in our approach, tailoring a solution to your specific needs, in partnership with other insurers, reinsurers, and investors involved in your company as appropriate. We underwrite most major lines of business and geographies globally. We have a global network including insurance licenses but not a competing retail insurance arm. Insurers are our clients, so working with us does not limit your options to associate with insurers. In selected circumstances, we can offer access to Lloyd’s or SCOR’s insurance licenses in the U.S., Europe, Asia, Brazil, South Africa, and other markets. We look to move quickly with direct access to decision makers, whilst leveraging resources and expertise to ensure our partners can build relationships with the appropriate parts of our organization.

We are an early-stage venture capital fund investing in visionary entrepreneurs where AI is a t the heart of their innovation, across Europe, North America, and LatAm, empowering them to create transformative solutions that redefine industries and shape the future. Investment Thesis Our investment thesis is focused on identifying and supporting early-stage B2B startups where Artificial Intelligence is the core driver of innovation. We exclusively invest in AI-driven companies that have the potential to redefine traditional industries and create transformative impact. Our geographical scope spans Europe, North America, and Latin America, enabling us to access diverse and high-potential markets. We target startups with exceptional teams, scalable business models, and cutting-edge AI applications, specifically in areas such as AI infrastructure, vertical-specific solutions (healthcare, fintech, cybersecurity, education), and B2B platforms that enhance business operations and decision-making processes. By investing early, we aim to accelerate their growth and scalability, providing not only financial capital but also strategic support and access to a global network of industry experts and co-investors. While our primary focus is on driving technological innovation and business growth, we also support companies that leverage AI to contribute to sustainability and positive social impact.

Venture capital for the most impactful digital-first green transition startups. With significant positive impact. Greencode Ventures is a digital-first green transition venture capital firm supporting startups that have a positive environmental and social impact while building scalable profitable businesses. We focus on sustainable investments as in article 9 of Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial sector (‘SFDR’). We focus on companies whose products or services inherently contribute towards our sustainable investment objective. Do you agree with these principles? Join forces with us. Together we can drive the impact we wish to see in this world! Green transition is complex. That's why you need substance matter expertise Green transition is complex. We are strongly convinced that it goes beyond CO2. Therefore a systemic approach and a broader horizon is key to finding solutions fast. Innovative and breakthrough solutions are created by small teams and startups challenging the status quo. In the field of green transition, established corporations play an important role as customer or market enabler. The Greencode team is strongly rooted in green transition industries. We will leverage our business understanding and corporate global network to accelerator go-to-market and fast scalabililty. To create a sustainable impact, disruptive solutions In addition to the disruptive solution, innovative companies need ato be able to build the viable business case for their B2B corporate customers, they need to build an organization which is scalable, and a culture that attracts the very best talent. Our team has a unique set of competences and experiences. We support our founders and teams in strategy creation and business development, international go-to-market, as well as in leadership and company culture building. Given our unique industry knowhow and experience, we know that the journey to creating sustainable impact for the green transition is challenging. We are in for the ride. Now you choose which future you want to go on.

We are the Swanlaab’s first establishment in the United States and are backed up by an Israeli venture capital group, Giza Venture Capital (Giza VC) and Swanlaab Spain. With more than 25 years of investing experience, they have made more than 120 investments and achieved more than 40 successful exits. Since 1992, Swanlaab and Giza have managed six funds and invested over $650 million. Thanks to its expertise and experienced team, Giza Venture Capital Group has become one of the leading VC groups and has led to numerous successful exits. Some of the winning investments include: XtremIO (acquired by EMC for $435M), Soluto (acquired by Asurion for $100M+), Oplus (acquired by Intel for $100M+), Actimize (acquired by NICE Systems for $281M), Precise (IPO on NASDAQ; acquired by Veritas), Zoran (IPO on NASDAQ; acquired by CSR), M-Systems (IPO on NASDAQ; acquired by SanDisk). Innovation and Technology We invest in globally competitive startups who have strong innovations in their technologies, that provide high barriers to entry, and are focused on B2B business models. Our H3IT (healthcare, information technology, Internet, and impact investment) strategy is clear and sets us apart in the market. All in all, Swanlaab USA has everything for smart investors to maximize shareholder value. integrity great pedigree, history, and background team business model ready for long term value acceleration sustainable competitive advantages for multiple bottom lines

The best results come from the powerful combination of financial capital and human capital. We see potential in people and teams. We engage with them so we can get to know them, and then we build them up to make the biggest impact. Our OA Collaborative of seasoned professionals and successful entrepreneurs gives portfolio management teams access to diverse experiences and insights. INVESTMENT FOCUSHEALTHCARE Technology-based and services businesses, with an emphasis on addressing cost containment or supporting aging in place. Reducing costs in the system Improving the patient experience Delivering better patient care Innovating with technology Aging gracefully in the home ENTERPRISE TECHNOLOGY Select platforms with a unique and value-added technology offering, deep customer relationships, high switching costs, and a scalable business model. B2B platforms Attractive growth profile Scalable technology Potential healthcare applications INVESTMENT CRITERIAINVESTMENT PARAMETERS:Transaction Types Growth equity Minority positions COMPANY ATTRIBUTES:$3-$20 million in revenue High growth Strong and enduring gross margins Capital efficient Highly scalable model Experienced management team open to active investors