Nationwide to invest more than $100 mln of venture capital

Nationwide said it will invest more than $100 million of venture capital in startups transforming the insurance and financial services industries, and working to protect data and digital assets, according to a press release.

The 91-year-old company launched Nationwide Ventures in early 2016 and has made six investments to date, including blooom, Insurify, Next Insurance and Sure. Nationwide also opened a business incubator, Refinery 191.

Terrance Williams, Nationwide’s chief marketing officer, is leading the efforts, and in September Scott Sanchez will join the company as chief innovation officer with responsibilities for venture capital and the incubator.