Allianz X
Allianz X is the digital investments arm of Allianz Group, a Munich-based corporate venture capital unit founded in 2016 that makes late-stage growth equity investments in proven insurtech, fintech and digital scale-ups complementary to Allianz. It manages roughly EUR 1.5-2bn from the Allianz balance sheet across around 25 direct holdings, having backed unicorns such as N26, Lemonade and American Well and realized several IPO and trade-sale exits.
Allianz X is a Munich growth equity firm with €1.5B AUM, 16 active companies and 4 exits.
- ·Average hold across 4 realized deals: 3 years.
- ·Top sector focus: Fintech (60% of portfolio).
Sector breakdown
20 companiesGeography breakdown
8 geographiesKey facts
Recent exits
Allianz X sold NEXT Insurance to Munich Re in 2025 after 2 years.
Allianz X sold heycar to Volkswagen in 2024 after 3 years.
Allianz X took American Well public in 2020 after 2 years.
Allianz X took Lemonade public in 2020 after 3 years.
Coverage notes
1 fund tracked, 20 portfolio companies (16 active · 4 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Allianz X has raised, with its portfolio companies. Hand-checked from public filings.
Allianz X Digital InvestmentsActiveEvergreen2016€1.5B16 assets4 exitsEvergreen2016 · 10yr€1.5B164
Unrealized
16 held| Company | Entry |
|---|---|
| AlTi Tiedemann Global Financials · US | 2024 |
| BIMA Fintech · Sweden | 2017 |
| C2FO Fintech · US | 2018 |
| Cambridge Mobile Telematics Mobility · US | 2026 |
| Clark Fintech · Germany | 2021 |
| Coalition InsurTech · US | 2022 |
| Coterie Insurance Fintech · US | 2025 |
| GoTo Telecom · Indonesia | 2018 |
| inmemori Consumer · France | 2022 |
| Innovation Group Business Services · UK | 2022 |
| N26 Fintech · Germany | 2018 |
| Openly Fintech · US | 2025 |
| Pie Insurance Fintech · US | 2021 |
| simplesurance Fintech · Germany | 2016 |
| Uala Fintech · Argentina | 2024 |
| WeLab Fintech · Hong Kong | 2021 |
Realized
4 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| American Well HealthTech · US | 2018 | 2020 | IPO | – | – |
| heycar Mobility · Germany | 2021 | 2024 | Trade Sale | Volkswagen | – |
| Lemonade Fintech · US | 2017 | 2020 | IPO | – | – |
| NEXT Insurance Fintech · US | 2023 | 2025 | Trade Sale | Munich Re | – |
Frequently asked questions
- What investment strategy does Allianz X focus on?
- Allianz X focuses on Growth, VC strategies in the private equity space.
- How many portfolio companies does Allianz X have?
- Allianz X has 16 active portfolio companies and 4 completed exits and 1 fund tracked on GP Intel.
- Where is Allianz X headquartered?
- Allianz X is headquartered in Munich, Germany.
- What is Allianz X's assets under management?
- Allianz X manages approximately €1.5B in assets under management.
- When was Allianz X founded?
- Allianz X was founded in 2016.
- What sectors does Allianz X invest in?
- Allianz X invests across Financials, TMT, Software, Healthcare.
- What are Allianz X's recent exits?
- Recent realized exits by Allianz X include: NEXT Insurance (2025) to Munich Re; heycar (2024) to Volkswagen.
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