Angermayer’s Elevat3 Fund to Make First Investment in Neodigital

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Christian Angermayer’s new European venture capital fund, Elevat3 Capital, will make its first investment in German digital insurance firm Neodigital Versicherung AG, a person familiar with the matter said.

The investment will value the company -- which sells online insurance for pets, mobile phones, bikes and accidents -- at about 60 million euros ($71 million) and may be announced as soon as this week, the person said, asking not to be identified because the deal isn’t yet public.

Angermayer, the German investor best known for his bet on medical psychedelics, is in the process of raising 125 million euros for Elevat3’s first fund, which will focus on tech investments in Europe, the person said. It’s already secured 100 million euros from backers including Peter Thiel, and the fund expects to close in December, the person said.

Representatives for Elevat3 and Neodigital declined to comment. A representative for Thiel didn’t immediately respond to a request for comment outside of regular business hours.

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