Insurance giant IAG’s venture capital arm, Firemark Ventures, has appointed former Fintech Australia boss Rebecca Schot-Guppy a general partner alongside company veteran Bradley Armstrong.
The company initially recruited Schot-Guppy as its leverage and portfolio management manager in late 2021. Armstrong has been with the business for nearly a decade, working his way up the ranks from analyst to director in 2020, and now general partner.
The duo aim to raise awareness of their portfolio companies and accelerate Firemark’s ambition to be a top global insurance VC.
Schot-Guppy said she plans to lead the fund’s focus on open data and climate tech, and hopes to promote awareness of pathways to the venture capital industry, especially for young women and men.
“I am very proud to be a General Partner of IAG Firemark Ventures to continue to deliver on our purpose to bring the outside world into IAG,” she said.
“I am also looking forward to helping grow the awareness of the pathways to the Venture Capital industry so that other young women and men can join our growing industry.”
Bradley is focused on expanding Firemark Ventures’ reach and impact by seeking new investment opportunities through partners and networks and prioritises creating growth opportunities for the team.
“I’m excited about the challenge and opportunity to collectively drive IAG Firemark Ventures from good to great while helping to shape the future of IAG by supporting purpose-aligned, exceptional founders to realise their vision.”
Firemark has $150 million under management and their areas of focus for 2023 will be on the emerging technologies of data, artificial intelligence, machine learning, the Internet of Things, platforms, and ClimateTech.
The VC fund’s investments include UpGuard, leading a $25 million round into the cybersecurity startup in 2021.
In February last year, Firemark launched $75 million second fund.
Its first fund kicked off in 2016 and invested in 18 startups in 33 rounds, including satellite Internet of Things creator Myriota, data science analytics company Hyper Anna, Tim Fung’s ASX-listed jobs marketplace Airtasker and the child tracking app Life360.
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