Obvious Ventures

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.

Antai Ventures is a Barcelona-based venture studio with presence across Southern Europe and Latam. Since 2012 we have co-founded +25 companies including Glovo, Wallapop, Nemuru, PlatanoMelon and Vitaance. Our ventures have raised more than $1.5B in funding, have generated more than $3B in shareholders value and currently employ more than 3.000 people. At Antai, we partner-up and invest in the best co-founders to build global companies willing to disrupt multi-billion dollar industries. In the last 10 years, we have gained experience in a variety of business models (E-Commerces/DNVBs, B2B SaaS, Marketplaces) operating in a wide range of industries including Edtech, Grocery, Healthtech, Fintech, Insurtech, Proptech, Autotech among others.

The most powerful ideas, companies, and industries aren’t created overnight. With a community built on collective experience and fueled by curiosity, Slow understands the entrepreneurial journey. Investing at the center of technology and on the edges of science, society, and culture, Slow gives curious founders the resources, connections, experiences, and empathy required to build strong, sustainable companies. We are generalists and invest in early stage teams and ideas ranging from Social Networking to Consumer Brands to SaaS, and Crypto. We believe - and have seen proven time and again - that great things frequently take time to inflect, and believe that our number-one job is to back great founders on their journey. In the last ~decade we have invested in the earliest rounds of over 500 companies, including… Consumer-Ish Nextdoor Private social network for your neighborhood Hipcamp Discover and book the best campsites in California Postmates Same day urban delivery platform Birchbox Subscription commerce for beauty products Allbirds Environmentally friendly footwear. Casper Digitally introduced brand of mattresses. Birdies Fashionable women’s slippers. BarkBox Subscription commerce for dogs Even Interest-free credit to keep your paycheck steady. Citizen People protect each other Good Dog Find puppies from responsible breeders. Fintech-Y Robinhood Mobile stock brokerage Venmo Social payment app Teamshares employee ownership for small business. Eco One balance to save, spend, and make money HM Bradley Unlock your money’s potential VGS Payment data security & compliance infrastructure Human Interest 401(ks) for SMBs Astra The Automation Platform for Money Movement Wax Insurance Protect your passion SaaS-Ie Airtable Modern database software. Domino Data Lab Enterprise data science platform. Frontapp Customer management platform Tonkean Next generation management platform. Otter AI-powered voice translation app. OpenPhone Mobile app for a business phone number Slack Work messaging Amplio Risk prediction & component sourcing Consumer-Medical-Ish Ro Direct-to-consumer telehealth. Livongo Health Personalized Tools for Chronic Condition Management Plume Gender-Affirming Hormone Therapy From Anywhere Pillpack Simplified Pharmacy Fairsquare Medical Your Medicare One-Stop-Shop Wheel powering virtual care Brightside online treatment for depression and anxiety Embark Dog DNA & health testing Flossy For patients without dental insurance Creator-Y Juice Banking trusted by the best creators Stem distribution and payments for musicians Human DAOs lead by creators Pearpop creator collaboration on demand Real-World-Ish Astra Lower cost rocket launches. Common Technology-enabled residential operator. Running Tide Automated ocean harvesting technologies. Zipline Global on-demand delivery. Metropolis mobile commerce and modern parking Pollen Own your network Crypto Solana Scalable blockchain infrastructure. Klaytn The Ground for All Blockchain Services Chia A new blockchain and smart transaction platform Aleo Where Applications Become Private. Algorand A pure proof of stake blockchain platform. Diem A trusted and innovative financial network. Ampleforth The rebasing currency. Lightning Labs layer-two bitcoin. Fold Wallet Bitcoin wallet. River The best place to buy, sell BTC And Many More….

Metavallon VC is a venture capital firm that specializes in pre-seed and seed stage funding of disruptive technology companies. We invest in and work alongside ambitious entrepreneurs, helping them build transformational businesses across multiple stages, geographies and industries. With an affinity for B2B models, deep technology, and strong ties with Greece, we back pioneering teams in Europe and the US, including ThinkSilicon (recently acquired by Applied Materials), Speen, Purposeful, Better Origin, and Perceptual Robotics. We are proud to be currently the most active venture capital fund in the country and also a member of the Silicon Valley-based Draper Venture Network with historic investments including Tesla, Skype, and other leading innovators. Our mission is to engage at the very early stage and invest in companies that will operate at the forefront of business and technology innovation. FinancingPRE-SEED INVESTMENT: Hit the ground running: Our market-driven process is designed to help you gain traction through unique pilot opportunities, guidance for rapid iterations, and increasing international exposure. And this is only the beginning. Initial ticket: €200K – €400K SEED INVESTMENT: Done this before? We back your early steps in new endeavors from €400K. You also get all the Metavallon perks and resources, such as access to our signature missions, market connections, and network of investors. Initial ticket: €400K – €1M DevelopmentTalent & HR from recruitment to operational HR Market Alliances with industry leaders for market access and expansion $100K+ in Perks dev services, payments, and more Pilot Alliances in our target technologies and industries Guidance + Mentoring from our Partners and Global Network of Advisors Targeted Networking with investors across Europe, the U.S., and internationally INDUSTRY + TECHNOLOGY = INNOVATION We invest in many kinds of tech companies, still here are a few sectors and technologies we’re really excited about. Transportation & Mobility Energy & Cleantech Space & Aviation Machine Learning & AI Microelectronics & Robotics Manufacturing & Logistics Agriculture & Foodtech Fintech & Insurtech B2B & ENTERPRISE Big Data & Analytics Internet of Things Maritime Retail Healthtech Blockchain VR & AR

“It turns out that one reason for the low percentage of dollars going to companies with women CEOs and executives is that there are so few women VCs. . .[but] True Wealth’s attraction isn’t just its gender focus. . .Their investments not only return a high ROI, but with an environmental and health focus to the investments, they make a social impact.” – Forbes, 2017Gender Matters The future of savvy investing is gender diverse. Women-led, venture capital backed start-ups financially outperform their male counterparts, utilizing less capital for a greater return. Despite the history of outperformance, there is a big blind spot in the market, creating a fantastic investment opportunity. That’s where the common sense strategy of creating True Wealth comes in, with a mission to deliver superior returns to our investors, portfolio companies, and communities by investing in highly-scalable, women-led businesses that improve environmental and/or human health. Where We Invest True Wealth Ventures is focused on investing in more women leaders who have proven to financially outperform in high growth markets of environmental and human health where women are making the vast majority of purchase decisions We know that women are especially interested in making a positive impact, as both entrepreneurs and investors, and are proud to be selected for the ImpactAssets 50 2021 List, a global list of impact fund managers recognized for demonstrated potential to create positive impact across sectors and asset classes. Therefore, we exclusively invest in companies that are both women-led and whose core value proposition is improving environmental and/or human health. Environmental Health Consumers and investors – and especially women – demand more sustainably designed and manufactured products and solutions without a negative environmental impact during their useful life or end-of-life. This category includes, but is not limited to, solutions like: Sustainably-produced building materials and energy systems Sustainably produced home goods (furniture, fashion, care and food) Green packaging Clean mfg & supply chain technology Sustainable ag tech Human Health The focus here is more on “health care vs sick care” with evidence-based solutions that explicitly improve health. The explicit exceptions are life sciences or any solution requiring heavy FDA approval (e.g. pharma, biotech, implantable medical devices.) This category includes, but is not limited to, solutions like: Health tech Food-as-medicine Wellness products and solutions Femtech Silver tech Clinical decision support Public/community health Women-Led Companies with more women at the leadership helm enjoy significantly better financial results. Women excel in a variety of areas that are important to 21st century leadership skills – areas like cooperation, communication, taking initiative and driving for results. We look for companies with at least: One full-time female founder or C-suite executive With significant decision-making authority With significant equity ownership How We Invest We like to be the first institutional investors at an early stage (usually Series Seed) with first checks up to $1M, and we often take a board seat. We generally reserve over half of our investment capital for follow-on investments. We look for companies where the founders see an acquisition exit opportunity within 3-5 years at a valuation of $100 million or more. We have also taken the Diversity Pledge and are intentional about building a diverse team and inclusive culture throughout the True Wealth Ventures Fund and portfolio.

We invest in companies that leverage differentiated technologies and scalable business models to generate financial returns and drive innovation. We believe technology will meaningfully transform all sectors of the economy, from property development, to HR processes, to new cyber security challenges. We support the growth of leaders at the forefront of these transformations. THE AVP PLATFORM PROVIDES A UNIQUE AND DIFFERENTIATED VALUE PROPOSITION ARTICULATED AROUND 3 MAIN PILLARS: A multi-stage investment remit with independent, cross-fertilized strategies A global investment platform A unique network of LPs including AXA & Equitable, key partners for business development AVP is a $1bn venture capital firm Investing in seed and early stage companies through AVP Early Stage, and in growth stage companies through AVP Capital. We partner with exceptional founders who are building great companies. In our early stage investments, we look for product-market fit and initial traction. In our growth-stage investments, we seek companies with attractive unit economics, a robust customer base, and significant revenue growth. Our relationship with AXA means unique access for our portfolio companies to:Some of the world’s best risk managers, financial advisors, and data scientists AXA’s distribution networks and client base AXA’s strong global franchises and different lines of expertise – Property & Casualty, Life & Savings, Health, and Asset Management – provide a distinctive business portfolio. AVP’s expertise in our target sectors, global footprint, and relationship with our anchor investors AXA and Equitable and other LP allow us to meaningfully help our portfolio companies realize their potential. AVP’s value proposition is tailored for entrepreneurs, case by case, to create and deliver value. AVP portfolio companies will have preferred access to AXA’s resources, including the buying power and distribution capabilities of a €100B revenue company with 107 million customers. SEVERAL PILLARS TO SUPPORT COMPANIES: Global presence and ability to help companies scale internationally Introductions to AXA and our broader network as a potential customer, partner, distributor, or even strategic partner Strong expertise in several fields (enterprise software, marketplaces, fintech, consumer technologies and all insurance / asset management related verticals) Access to AXA and Equitable’s deep expertise in insurance and asset management, as well as the specialized expertise of our other LPs.