Apollo, Northwestern Mutual, Pantera Capital and Stillmark are joining Bain Capital and crypto investor Haun Ventures to back the Bitcoin life insurance firm Meanwhile in a $82 million funding round.
The Bermuda-regulated insurer, which claims to be the first life insurer to offer products entirely denominated in crypto, began to provide policies in 2023. The firm invests policyholders’ premiums by lending Bitcoin to large, regulated financial institutions. Zac Townsend, a co-founder and chief executive officer of Meanwhile, said the firm is now “one of the largest lenders of Bitcoin in the world at duration,” or over longer periods of time.