Capital markets

Its the biggest investment the vehicle has made to date in South African startups.

There were about 36 funding rounds in the insurtech sector in July, according to a review by Digital Insurance and with data from Crunchbase.

Amount raised in this time period was more than all of 2018.

A selection of 36 rounds recorded in the U.S., Canada and Europe.

A major stock investment in Acrisure weighed the numbers, however.

More than 97% of venture backing goes go white-owned startups. Firms like Mendoza Ventures, Chingona Ventures and MaC Venture Capital are stepping in to support underserved entrepreneurs.

A selection of notable investments in insurance startups.

The major increases included both mega-rounds and an influx of early-stage companies.

There were more than 40 rounds of more than $10 million in the quarter.

Insurtech maturity and the pandemic are driving investment.