BrokerTech Ventures announced Tuesday it has partnered with Des Moines-based venture capital investor ManchesterStory to launch the BrokerTech Fund LP.  According to a news release, it is the first venture capital fund focused on early-stage insurtech companies developing technology solutions for brokers. Limited partners of the $34 million fund include Holmes Murphy, M3 Insurance, Baldwin Risk Partners, UNICO Group, IMA Financial Group, Christensen Group, and the Graham Co.

“This is an exciting time for Holmes Murphy, BTV, and all of our partners who have worked tirelessly to get the BrokerTech Fund off the ground,” Dan Keough, Holmes Murphy chairman and CEO and BTV co-founder and co-CEO. “We believe we’ve harnessed something special through the power of BTV. Now, using this new fund as a catalyst for capital infusion, we’re even more bullish around the possibilities to change and innovate our industry even further and to impact the client experience even greater.”

ManchesterStory is the fund’s general partner and manages more than $225 million in committed capital across multiple funds focused on emerging technologies in insurance, financial services and health care. “BrokerTech Ventures brought front and center the voice of the broker community in insurtech innovation,” Dave Miles, founding partner of ManchesterStory, said in a prepared statement. With today’s launch of the BrokerTech Fund, BTV once again breaks new ground with the first-ever venture fund backed by a consortium of leading insurance brokers dedicated to helping insurance brokers better serve the needs of their insurance customers through technology.”