Hartford-based financial services firm Nassau Financial Group has taken equity stakes in two insurtech startups — a Connecticut asset management technology company and a genomics-based health navigation firm.
Hartford-based financial services firm Nassau Financial Group has taken equity stakes in two insurtech startups — a Connecticut asset management technology company and a genomics-based health navigation firm — marking the first direct investments under its expanded Reimagine program.
Nassau acquired stakes in Quorus Inc. and Kadance Inc. through a $10 million capital commitment it announced last year to fund investments in early- and mid-stage startups in insurtech, fintech and retirement technology.
Quorus, based in Westport, uses technology and quantitative portfolio management to help financial advisers build personalized, tax-efficient investment portfolios at scale.
Huntsville, Alabama-based Kadance uses genomics and precision health tools to help individuals identify and manage health risks, with a focus on cancer screening and pharmacogenomics.
The two companies are the first to receive direct investment support through Reimagine, which Nassau established in 2019. The program has provided incubation support, office space and connections to more than 100 startups.
Nassau said it uses the Reimagine program to identify technologies that may be applicable to its own business. The company did not disclose the size of the individual investments.
