Putting Equity and Diversity into the Heart of Insurtech (w/Elizabeth McCluskey, Director at CMFG Ventures, Cuna Mutual)

Elizabeth McCluskey is a Director at CMFG Ventures, the venture capital arm of CUNA Mutual Group. She is the head of the Discovery Fund, which focuses on early-stage fintech companies led by underrepresented founders.

Today she talks about financial inclusion, low-income populations, and sourcing entrepreneurs directly from these communities. 

She discusses impact investing vs. just making sound investments for financial return, and the fund's core theses around budgeting and financial management, credit access/building, affordable debt, wealth building, financial wellness and embedding financial literacy in all of these.

Elizabeth sheds light on member-serving credit unions as a new ecosystem for most insurtechs, and aligning their mission and values with the overall investment and startup strategy.

Elizabeth is passionate about supporting companies that improve consumer financial health and address financial inequality. She has spent her career in financial services, including over 15 years as an investor in private and public markets.

Prior to joining CMFG Ventures, Elizabeth was a Principal at Impact Engine, where she helped launch the women-led investment firm’s first venture capital fund.  At Impact Engine, she invested in early-stage companies in economic empowerment, environmental sustainability, and health equity.  She has an undergraduate degree from Harvard College and an MBA from the University of Michigan Ross School of Business.

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