CMFG Ventures

CMFG Ventures — now rebranded as TruStage Ventures — is the corporate venture capital arm of CUNA Mutual Group (now TruStage), an insurance company with more than 80 years of history serving 95 percent of US credit unions. Founded in 2016 and based in Madison, Wisconsin, the fund invests in US-based fintech and insurtech startups at Series A and B stages, focusing on mobile banking, online banking, financial services, and insurance technology. The firm's strategic differentiator is direct access to a network of over 5,000 credit union institutions nationwide. CMFG Ventures has deployed more than $200 million across 56 companies, with average check sizes ranging from $3 million to $20 million. A notable initiative is the CMFG Ventures Discovery Fund, a $15 million commitment over three years directed specifically at early-stage companies with diverse founding teams working in fintech. This program extends the fund's investment reach beyond its core Series A and B mandate. The firm's thesis is grounded in the structural influence of the US credit union ecosystem. Portfolio companies gain access not just to capital but to a captive distribution channel comprising millions of credit union members and the institutions that serve them. This strategic positioning allows CMFG Ventures to create value for both portfolio founders and the parent organization — reinforcing TruStage's relevance in a rapidly digitizing financial services landscape.