What Insurtech Capital does

Mandalore Partners, operating under the DBA 'Insurtech Capital' among other sub-brands, is a France-based private venture capital firm providing Venture Capital-as-a-Service (VCaaS) to large corporations and financial institutions. The firm structures, launches, and manages Corporate Venture Capital (CVC) programs and AI-focused investment initiatives on behalf of enterprise clients, targeting exposure to strategic technologies aligned with corporate transformation goals. Its offering is organized around a proprietary '6S' methodology (Seeking Capital, Sourcing, Seeding, Scaling, Selling, Scoring) and a '4i' domain specialization covering InsurTech, InvestTech, ImpactTech, and IndustryTech, with dedicated funds (InsurTech Fund, ImpactTech Fund, IndustryTech Fund), an AI Venture Program, and a Venture Building service that supports startups from seed through scaling.

The business model combines management fees and carried interest from managed CVC funds with professional services fees for advisory and program-design engagements. Mandalore monetizes through bespoke, quote-based enterprise contracts rather than standardized pricing, reflecting a partner-centric, high-touch go-to-market. Distribution is driven by direct enterprise engagement, a partner network categorized as Institutional, Corporate, Limited, and Impact Partners, and a content engine spanning research publications (including the European WealthTech Map 2026), a podcast, newsletter, and sustained speaking presence at industry events such as VivaTech, INSEAD PE & VC Conference, FinTech R:Evolution, SuperReturn Asia, Web Summit Qatar, and GITEX GLOBAL.

Mandalore is founder-led by CEO Minh Q. Tran and operates from offices in Paris (headquarters), Lyon, and Luxembourg, with active engagement across Europe, MENA, and Asia. Reported strategic moves include the exit of portfolio company Mon Petit Placement to Malakoff Humanis, an AI Venture Program launch, and partnerships with INSEAD AI Venture Lab, Pledger, Iznes, and QIC-Wello Partners. No headcount, AUM, revenue, or funding-round data is publicly disclosed.

Name

Insurtech Capital

Legal name

Mandalore Partners

Website

https://insurtechcapital.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Mandalore Partners (DBA Insurtech Capital) is a France-based private VC firm providing Venture Capital-as-a-Service and Corporate Venture Capital program design for large corporations and financial institutions, specializing in InsurTech, InvestTech, ImpactTech, and IndustryTech.

Ownership category

akta.pro rank

Product category

Venture Capital Services

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

Corporate Fintech / Insurtech CVC (Financial-services-led CVC) (FSANAHAK)

akta.pro secondary industries

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD), Corporate Venture Studios & Incubators (Build/launch ventures) (FSANAHAC)

Keywords

• Venture capital services
• Corporate venture capital
• Insurance technology investing
• AI venture programs
• Startup investment advisory

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. VC-as-a-Service Management: Provides strategic services tailored to the needs of Insurtech companies, helping them navigate complex market landscapes, accelerate growth, and stay ahead of emerging trends. Revenue likely derived from management fees and carried interest from corporate venture capital programs.
2. Corporate Venture Capital Advisory: Empowers corporations to drive innovation by leveraging external venture capital expertise to invest in startups aligned with customer needs.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Insurtech Capital (operating as Mandalore Partners) provides Venture Capital-as-a-Service (VCaaS), structuring, launching, and managing AI-focused and innovation-driven investment initiatives for large corporations and financial institutions. Offerings include specialized investment funds in InsurTech, ImpactTech, and IndustryTech, an AI Venture Program, and hands-on Venture Building services, all executed through the proprietary 6S framework.

Product overview

Mandalore Partners operates as a Venture Capital-as-a-Service (VCaaS) platform providing comprehensive corporate venture capital services. The core VCaaS offering is supplemented by specialized investment funds in InsurTech, ImpactTech, and IndustryTech, along with an AI Venture Program for AI-focused investments. The company also offers Venture Building services for hands-on startup development. Content resources include Research publications, Podcast, and Newsletter. The 6S methodology (Seeking Capital, Sourcing, Seeding, Scaling, Selling, Scoring) underpins their approach to empowering startups from seed funding through scaling operations.

Differentiator

Problem solved

Functional benefit

Brands

• InsurTech Fund: Investment fund focused on driving innovation in insurance technology.
• ImpactTech Fund
• IndustryTech Fund

Products and services

• VCaaS (Venture Capital-as-a-Service)

Quantifiable outcome

• Solid track record of empowering startups with resources, expertise, and connections needed to succeed

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core.

• PledgercoreStrategic or Co-development PartnerPledger is a strategic partner with whom Mandalore Partners co-presents at industry events. They appeared together at Patrimonia 2025 in Lyon and VivaTech 2025, indicating a collaborative GTM relationship in the French fintech/wealthtech ecosystem.
• INSEAD AI Venture LabcoreStrategic or Co-development PartnerMandalore Partners collaborates with INSEAD AI Venture Lab to shape the future of AI entrepreneurship. The firm participates in INSEAD's 21st Private Equity & Venture Capital Conference and ETA Conference, indicating deep academic and startup ecosystem ties.
• QIC-Wello PartnerscoreStrategic or Co-development PartnerPartnership related to healthcare, AI investment, and wellbeing innovation. The collaboration was highlighted at The Future of Healthcare event discussing how AI investment and the QIC-Wellox partnership are redefining wellbeing.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Anthemis: Anthemis is a UK-based venture investment and advisory platform focused on financial services and InsurTech, very similar to Mandalore's 4i domain focus. Both firms invest in fintech/insurtech founders and support financial institutions in designing venture and innovation strategies, making them directly comparable specialist CVC advisors.
• Founders Factory: Founders Factory designs, builds, and scales venture programs in partnership with corporates, closely matching Mandalore's venture-building and corporate venture program offering. Both monetize through corporate partnerships and selective investment in early-stage technology startups.
• Speedinvest: Speedinvest is a European early-stage venture firm with sector-focused funds including FinTech and InsurTech, directly overlapping Mandalore's InvestTech and InsurTech domains. Both serve European founders and financial-services LPs with sector-specialized capital and support.
• Highline BETA: Highline BETA operates a Corporate Venture-as-a-Service model helping large companies build and launch venture programs, directly matching Mandalore's VCaaS offering. Their shared focus on designing, building, and scaling corporate venture initiatives makes them a close comparable in business model and target buyer.
• FinTech Collective: FinTech Collective is an early-stage venture firm focused exclusively on fintech, directly mirroring Mandalore's InvestTech and InsurTech domain emphasis. Both engage with financial-services incumbents as LPs and partners while investing in transformative startups in the sector.
• CommerzVentures: CommerzVentures is the venture arm of Commerzbank, focused on fintech and insurtech investments globally. While it is a corporate CVC arm rather than a VCaaS provider, it competes for the same InsurTech/InvestTech deal flow that Mandalore's funds target and serves similar financial-services corporate LPs.
• Plug and Play: Plug and Play runs corporate innovation programs and accelerator-driven venture platforms for large enterprises, comparable in GTM motion and corporate-VC-as-a-service positioning. Its global footprint and corporate partner network parallel Mandalore's ambitions across InsurTech, IndustryTech, and ImpactTech.

Broad incumbents

• MassChallenge: MassChallenge runs corporate-partnered accelerator programs that connect large enterprises with early-stage startups, similar to Mandalore's venture-building and CVC program design services. Both monetize through corporate partnerships rather than relying solely on fund returns.
• Allianz X: Allianz X is the digital investment arm of Allianz, focused on InsurTech and adjacent financial-services innovation. As a large, well-capitalized incumbent it represents both a competitor for insurtech deal flow and a potential client/partner for Mandalore's VCaaS platform.

Emerging players

• Digital Insurance Agenda (DIA): DIA operates the global insurtech community with venture and ecosystem programs serving insurers and insurtech founders. While primarily a community/events platform, it overlaps with Mandalore's InsurTech focus by connecting corporates and startups in the same target segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/Insurtech_Cap

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Insurtech Capital