CHICAGO–(BUSINESS WIRE)–Distributed Ventures, an early-stage venture capital firm specializing in insurtech, healthtech, and fintech investments, announced today the strategic hiring of Joe Flanagan and Alex Carvalho. Joe joins Distributed Ventures as Growth Partner based in Chicago while Alex joins as an Associate based in New York working with the fund’s fintech and insurtech portfolio companies.
“We are thrilled to welcome Joe and Alex to the team and for the value they bring to our fund and the entrepreneurs we invest in,” said Shawn Ellis, Managing Partner at Distributed Ventures. “These new hires represent an exciting milestone for Distributed Ventures as we continue to expand our portfolio and strategic partnerships.”
As Growth Partner, Joe will focus on helping early-stage companies within Distributed Ventures’ portfolio develop and refine their go-to-market strategies, fortify their commercial teams, and catalyze business development milestones. Joe’s entrepreneurial journey began at the age of 27 when he built JP Flanagan Corporation, which would become one of Chicago’s largest insurance agencies with offices throughout the country before he sold it to Hub International. Throughout his career, Joe has leveraged his sales acumen, relationship-building talents, and ability to navigate organizations to establish several multi-million-dollar businesses in diverse contexts. While serving as Growth Partner, Joe will also continue his position as Chairman of Acquirent.
“What attracted me to Distributed Ventures was the fund’s investment approach as an active venture partner and its innovative portfolio of companies that are revolutionizing the insurtech, fintech, and healthtech industries,” said Joe. “As Growth Partner, I look forward to collaborating with these companies to help achieve their milestones through accelerated revenue growth, commercial traction, and talent retention.”
In his role as Associate, Alex will further the fund’s investment efforts in Fintech and Insurtech, helping the firm identify investment opportunities consistent with their operating ethos focused on partnering with talented entrepreneurs as they realize their vision. Alex brings significant transaction and investing experience to Distributed Ventures. Most recently, Alex was an investor at a venture capital firm focused on early-stage investments in tech-enabled businesses. Prior to that, Alex worked at Deutsche Bank as an Investment Banking Associate in their Consumer and Business Services Group. Alex received a BS in Industrial Engineering from Columbia University and a BA in Economics from Claremont McKenna.
“I am looking forward to working with an excellent group of investors and innovators at Distributed Ventures and have been deeply impressed by the firm’s differentiated approach to investing, founder collaboration, and track record,” said Alex. “The fund’s highly consultative engagement with its strategic limited partners is particularly compelling. Regardless of where we are in an economic cycle, Distributed Ventures connectivity to the founder community, core industry expertise, and financial discipline positions the firm well to deliver outsized returns.”
In addition to the growth of its leadership and investment teams, Distributed Ventures continues to expand its portfolio of companies transforming the future of risk across its respective industries with the addition of four new investments. In 2022, Distributed Ventures lead the series Seed funding for the first and only digital male fertility center of excellence Posterity Health and reimagined home warranty offering Armadillo in addition to participating in the series Seed funding rounds for all-in-one P&C payments solution Ascend and the first ever digital insurance solution for residents of manufactured homes Covertree.
About Distributed Ventures
Distributed Ventures is a Seed to Series B focused fund that invests in entrepreneurs as they transform the future of risk across Fintech, Insurtech, and Digital Health and Benefits. As former founders, investors, and operators, the Distributed Ventures team provides deep subject matter and early-stage operational expertise to help companies find success from day one. Distributed Ventures was born out of NFP Ventures with the goal of helping entrepreneurs demonstrate product-market fit and accelerate commercial traction via diverse distribution channels. For more information, visit distributedvc.com.