IAG is the latest big Australian company to create a startup funding unit

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[1] In order to purchase stakes from tech companies, Insurance Australia Group is setting up funds.

[2] Developed in 2014, IAG Ventures will be utilized for the placement of the new startup fund.

[3] Furthermore, the group is also collaborating with PayPal’s payments platform Braintree, to ensure the modernization of its new insurance products’ payment technologies.

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[Source] Australian Information Technology News – IAG is the latest big Australian company to create a startup funding unit