Braven, an early stage investment firm specializing in regulated industries, announces its second innovation group, the Financial Services & Insurance Unit, focusing on digital transformation in finance, capital markets, banking, and insurance. Joel Herold joins the unit as Braven’s first Cobuild Partner to manage the development of Braven’s portfolio investments and the incubation of companies within these sectors.
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“Recent fraud and compliance scandals in fintech and crypto underscore the criticality of establishing proper governance and compliance from the start.”
“Insurance and financial services are the invisible glue behind every industry,” says William Abecassis, Braven’s Managing Partner. “Advances in technologies such as AI present tremendous opportunities to build the next-generation infrastructure enabling organizations to adapt to our rapidly changing world.”
The Financial Services & Insurance Unit is jointly led by William Abecassis and LizAnn Eisen, Senior Regulatory & Strategy Partner, with operational leadership provided by Joel Herold. “There has been an abundance of capital flowing into fintech and insurtech, yet most of what’s out there has focused on incremental digitalization,” explains Herold. “I’m excited to join founders creating the new business models and infrastructure within these industries, unlocking substantial value.”
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Herold was most recently Executive Vice President and Chief Legal Officer of DRI Capital, Inc., a private equity manager and pioneer in pharmaceutical royalty monetization. He has also served as an executive at Reservoir Media and was a corporate partner at Cravath, Swaine & Moore LLP, where he led the structured finance practice.
“We’ve concentrated on assembling a team with specialized sector and technology expertise as well as strong regulatory experience,” states Eisen. “Recent fraud and compliance scandals in fintech and crypto underscore the criticality of establishing proper governance and compliance from the start.” Prior to joining Braven, Eisen held the position of Deputy Director of Disclosure Operations in the SEC’s Division of Corporation Finance, and brings over two decades of experience as a Partner at Cravath, Swaine & Moore LLP, specializing in domestic and international corporate finance transactions.
The unit will benefit from Braven’s strategic advisors, further extending its capabilities and network, and drawing from prominent firms in the financial and insurance sectors, including Marsh McLennan, White Mountains Insurance, Citi, Goldman Sachs, D.E. Shaw, and Bridgewater Associates.
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