IA Capital Group Announces Initial Close of Inter-Atlantic Opportunity Fund I, Anchored by QBE Insurance Group

New fund pairs IA Capital's insurtech investment platform with QBE Ventures' strategic perspective, backing insurtech companies through primary and secondary transactions as other investors step back

NEW YORK, Nov. 5, 2026 /PRNewswire/ -- IA Capital Group, a venture capital firm that has invested in fintech and insurtech since 2000, today announced the initial close of Inter-Atlantic Opportunity Fund I, its 11th fund. The fund is anchored by QBE Insurance Group ("QBE") through QBE Ventures, the Group's corporate venture development and investment arm.

The Opportunity Fund targets what IA Capital sees as a widening gap in late-stage fintech and insurtech: as generalist and corporate investors have shifted their attention elsewhere, well-run companies with real revenue have fewer natural sources of growth capital and liquidity.

The fund invests in companies in fintech, insurtech and adjacent sectors, primarily at Series B and later. It makes primary investments in companies IA Capital knows well through its portfolio, its network of funds and limited partners, and long-standing founder relationships, and buys secondary positions from existing holders seeking liquidity, including corporate venture programs that have stepped back from the sector. IA Capital's investment team, led by General Partner Ravi Shah, has closed two Opportunity Fund investments to date: Panacea, a US-based financial platform built for doctors, dentists and veterinarians and their practices, and Aurora, a UK-based algorithmic underwriting platform that automates P&C underwriting.

"We believe there is a significant opportunity to build a more flexible model for corporate venture investing," said Andy Lerner, Managing Partner at IA Capital Group. "We bring infrastructure, network, and investment experience to partners seeking meaningful exposure to innovation, complementing what they already do well."

For QBE Ventures, the commitment complements a direct investment strategy centered on deeper strategic partnerships with companies that can create value across QBE's global business. The Opportunity Fund extends that program, providing access to opportunities that are often not feasible for corporate investors to access directly.

"A number of corporate venture programs have retrenched over the past few years, often because the investments were disconnected from the core business and strategy," said James Orchard, Chief Executive Officer of QBE Ventures. "Our thesis has always been to work closely with our business and invest in strategic partnerships that have the potential to significantly accelerate the delivery of our core priorities. The Opportunity Fund complements this approach - it lets us move quickly and enables us to back strong companies as other investors step back."

IA Capital launched its first fund in 2000 and has had strategic investing relationships with insurers since 2014. In addition to the Opportunity Fund, the firm manages three multi-LP funds for 23 insurers and two single-LP funds for Prudential Financial and Goldman Sachs Alternatives.

About IA Capital Group

IA Capital Group is a New York-based investment firm and manager of the Inter-Atlantic funds. With 73 completed fintech and insurtech investments, the firm has a 26-year track record of managing venture capital funds for insurance companies and financial institutions.

About QBE Insurance Group

QBE Insurance Group Limited (QBE) was founded in Townsville, Queensland in 1886 and is now headquartered in Sydney and listed on the Australian Securities Exchange (ASX). QBE is an international insurer and reinsurer organised across three divisions with a local presence in 26 countries.

About QBE Ventures

QBE Ventures is the venture development and investment arm of QBE Insurance Group.
QBE Ventures develops and invests in technology solutions that have the potential to transform QBE and the international markets in which the Group operates.

Media contacts

IA Capital Group 
Ravi Shah
Phone: +1 212 581 2000
Email: contact@iacapgroup.com

QBE Insurance Group 
April Brown-Turner
Head of External Affairs
Phone: +61 403 135 043
Email: externalcomms@qbe.com | april.brown-turner@qbe.com

SOURCE IA Capital Group