Taiwan Life Insurance Co.,Ltd, a Taiwanese leading insurance solution firm owned by Taiwanese financial group CTBC Financial Holding, has agreed to inject a total of $20 million in Lightspeed Venture Partners’ two private equity funds, according to a company filing.
The disclosure revealed that it intends to pour $10 million into Lightspeed Venture Partners Select IV, L.P. and Lightspeed Venture Partners XIII, L.P. respectively.
With the deal, the investments toward private placement of securities will amount to 0.48 per cent of the total assets in Taiwan Life Insurance.
Taiwan Life Insurance, set up in 1947 and incorporated in 2015 by CTBC, is one of the largest insurance companies in the country. It provides health insurance, accident insurance, travel insurance, annuity insurance, participating insurance, among others. Besides, it also offers loan services for mortgage and automobile.
Taiwan Life Insurance has two subsidiaries TLG Insurance and Tlg Capital in Taiwan. In mainland China, it has tied up with Chinese industrial & investment enterprise group Xiamen C&D Corporation Limited in setting up a joint venture insurance company King Dragon Life in 2008.
Previously, in August 2019, the company had infused $33.4 million in Antin Infrastructure Partners IV, a PE fund focused on transport, telecommunications, social infrastructure and energy sectors across North America and Europe.
Lightspeed Venture Partners is an early-stage venture capital firm focused on disruptive innovations and consumer sectors. In 2018, it had closed $1.8 billion of committed capital in Lightspeed Venture Partners Select III and Lightspeed Venture Partners XII.