# American Family Mutual Insurance Company

American Family Mutual Insurance Company is a Pension Fund based in Madison, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Madison, United States
- **Region:** North America
- **Founded:** 1927
- **Assets under management:** Undisclosed
- **LinkedIn:** https://www.linkedin.com/company/american-family-insurance

## Regulatory record

- **Reports private funds:** No

## About

American Family Mutual Insurance Company was established as a mutual insurer. Bill Westrate holds the role of Chair and CEO. The firm maintains its headquarters in Madison, Wisconsin. The company allocates capital across insurance operations, public equities, and venture investments. Confirmed holdings include long positions in VOO, IWP, and HYLB ETFs as of Q2 2025. American Family Ventures has deployed into Bold Penguin, Networked Insights, and XP Health. Activity spans the United States with additional exposure through sponsorships in Wisconsin. Group assets reached $45.5 billion at year-end 2025. The firm employs American Family Insurance Dreams Foundation, established in 2016, for community giving. It sponsored the American Family Insurance Championship in June 2025. Additional vehicles include the Steve Stricker American Family Insurance Foundation. Ownership of American Family Ventures provides a dedicated channel for insurtech exposure separate from core insurance reserves.

## Sectors

- Insurance
- Venture Capital

## People

- Bill Westrate — Chair and CEO

## Questions

### Who runs investment decisions at American Family Mutual Insurance Company?

Bill Westrate serves as Chair and CEO. Investment activity occurs through American Family Ventures and American Family Investments, Inc.

### Does American Family Mutual Insurance Company participate in fund commitments or only direct deals?

The firm holds both direct ownership in portfolio companies such as Bold Penguin and limited partner positions in startups through American Family Ventures.

### What investment stages does American Family Mutual Insurance Company typically target?

American Family Ventures targets early-stage insurtech and related startups with ticket sizes between $0.1 million and $5 million.

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- [Allgemeine Pensionskasse der SAirGroup (APK)](https://altss.com/profile/allgemeine-pensionskasse-der-sairgroup-apk)
- [American University](https://altss.com/profile/american-university)

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Last updated: 2026-06-03T20:00:00.000Z

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