WHO WE ARE
The opportunity for startups
to transform important industries such as insurance —
the peace of mind it will
enable — is massive.
Mary Kate Pennington
I learned the liberating influence of insurance when I was involved in a car accident.
An immigrant from Chennai, India, I began my American dream as a newly graduated master of electrical engineering from Arizona State University. Soon after arriving in the Silicon Valley for a new job, I was involved in a hit-and-run incident that totaled my brand-new yellow Volkswagen Beetle. Although I was not physically hurt, it was the payout from my insurance claim that saved me. Had insurance not stepped in, the financial burden could have ended my nascent dreams. Instead, I went to the movies that night and bought a more affordable used car a few days later. The event opened my eyes to how financial safety nets help protect people and businesses everywhere.
That lesson came into even sharper focus in 2007, while studying for my MBA at INSEAD. As part of a course in social entrepreneurship, my class took a field trip to meet Nobel Laureate Dr. Muhammad Yunus, founder of the Grameen Bank whose innovations in bringing banking and insurance to the developing world have given millions of people with minimal assets a chance at prosperity. Since that time, I have learned again and again how these principles are universally applicable and foster a spirit of caring in our communities. Access to financial safety nets like insurance, not only give people a fair chance at life, but also prevent disastrous consequences for the economy at large. Hurricanes, earthquakes, fire, disease, theft, or even plain bad luck should not obliterate hopes for prosperity.
I created Sure Ventures after spending more than a decade learning and practicing the art of venture capital at Intel Corp. (formerly Altera Corp.) and at USAA. The mission of the new firm is to enable peace of mind for all individuals and businesses, to be a force for good. We work with visionary entrepreneurs who use advanced technologies to seize what I believe to be the greatest opportunities in finance and social development today.
Thank you for joining me in supporting ambitious entrepreneurs. I aim to build a strong foundation for the future, and envision expanding into additional industries to serve the mission in more impactful ways as the firm grows. Looking forward to a long and fruitful journey as we build the firm together.