BRAVEN LAUNCHES NEW MODEL OF VENTURE CAPITAL TO INVEST WHERE DEEP TECHNOLOGIES ARE REMAKING REGULATED INDUSTRIES
The new firm is institutionally backed by Josh Harris's next-generation alternatives asset manager, 26North
NEW YORK, Dec. 2, 2022 /PRNewswire/ -- Braven, a venture capital firm pioneering a new operating model to co-build breakthrough early-stage startups, announces its launch as a joint venture with 26North Partners LP (26North), a next-generation alternative asset firm founded by private equity leader and philanthropist Josh Harris.
The firm invests where deep scientific and technical innovation is transforming the large, regulated industries that underpin society, such as finance, healthcare, defense, and industrial infrastructure. Braven is led by William Abecassis, founder and former head of BlackRock's Innovation Capital venture group.
"We believe there are large, underserved opportunities to earn outsized financial returns while having exponential impact on globally important industries," said Abecassis. "Today's dominant VC model works for independent disruptors, but it isn't built to help innovators in complex, regulated industries who need to collaborate and coordinate with many critical stakeholders. We've engineered a model of deep, active engagement with portfolio companies in which Braven and partners such as 26North provide the expertise, relationships, and resources needed to effectively engage their industries' ecosystems."
26North has made an equity investment in Braven. The joint venture enables close collaboration between Braven's portfolio companies and 26North's platform, which currently includes private equity, credit, insurance, and reinsurance solutions. 26North's platform and portfolio companies will also provide a unique opportunity for accelerated product validation and commercial traction to Braven investments.
Braven's partners at 26North include founder Josh Harris, former Centerbridge and Goldman Sachs partner Lance West, former head of Goldman Sachs Asset Management's private credit group Brendan McGovern, former Apollo Global Management Managing Director Evan Zemsky, former Blackstone Managing Director Tina Raja, and former Security Benefit Life executive Cole Charnas.
"As we continue to expand 26North's platform, one of our priorities is investing in leading-edge technology that will advance our vision and deliver distinct advantages across our operations, funds, and portfolios," said Harris. "William is an innovator and leader who will help 26North digitally transform and optimize its own ecosystem and portfolio while creating significant alpha for both our firms and investors."
A key pillar of Braven's model is the assembly of bespoke "dream teams" for each investment. The firm draws from its affiliated network of founders and operators to surround portfolio companies with world-class partners invested in their success.
"I'm thrilled by the caliber of the team, our partners, and our fellow investors who have come together on this mission, starting with our unique 26North partnership," said Abecassis. "I look forward to giving our all to visionary founders and driving value for their critical technologies from day one."
About Braven
Braven is an institutionally backed venture firm focused where deep scientific and technical innovation is transforming the large, regulated industries that underpin society, such as finance, healthcare, defense, and industrial infrastructure. Braven has engineered a new model of venture capital, designed to help visionary companies break through the barriers of these complex legacy industries and reshape them for the better. For more information, visit: https://braven.vc
About 26North
26North Partners LP is an integrated, multi-asset class investment platform, founded by Josh Harris. 26North provides investment advice and opportunities to its clients related to a variety of investment strategies, including private equity, credit, and insurance and reinsurance solutions. Josh Harris and the 26North team bring decades of experience managing third-party capital to help clients achieve their financial goals while leaving a lasting impact on the communities they serve. 26North has more than $9.5 billion in assets under management.
SOURCE Braven
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