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State Farm Launches Venture Capital Arm

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September 18, 2018—State Farm has announced the launch of a $100 million venture-capital initiative through its newly formed State Farm Ventures, reported Insurance Business.

State Farm Ventures will invest in start-ups developing technologies and products that fulfill customer needs in ways customers wouldn’t think possible with an insurance company, according to the firm.

State Farm Ventures will be led by Michael Remmes, innovation executive, and will focus on providing innovative products and solutions to State Farm customers, according to the report.

 

 

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