Life insurance and financial planning giant Northwestern Mutual announced today that it is creating a $5 million early stage venture capital fund to invest in startups in its hometown of Milwaukee. Called the Cream City Venture Capital Fund, it will grant selected early stage startups between $100,000 and $250,000.
The announcement comes on the heels of a $50 million fund Northwestern Mutual launched earlier this year to invest in fintech startups, called Northwestern Mutual Future Ventures, as well as Northwestern Mutual’s 2015 acquisition of LearnVest.
