IA Capital Group holds initial close of Inter-Atlantic Opportunity Fund I, anchored by QBE Ventures

IA Capital Group has announced the initial close of Inter-Atlantic Opportunity Fund I, its eleventh fund, anchored by QBE Insurance Group through its venture arm QBE Ventures. The size of the close and the fund's target were not disclosed.

The fund invests in fintech, insurtech and adjacent sectors, mainly at Series B and later, through primary and secondary deals. The New York-based manager's investment team is led by General Partner Ravi Shah, and Andy Lerner is Managing Partner. James Orchard is chief executive of QBE Ventures.

The read: an insurer as anchor LP ties the fund's insurtech focus to a strategic investor with its own distribution.