The investment comes from notable backers including Aquiline Capital Partners, firstminute capital, and other strategic partners.

The raised capital will bolster Oka’s risk-based capital requirements and support its operational expansion as it continues to underwrite through its innovative Lloyd’s syndicate-in-a-box, Oka Syndicate 1922. In addition to attracting investment, Oka has forged partnerships with three reinsurance providers and secured a capital commitment from a subsidiary of Greenlight Capital Re. This commitment will enable Greenlight Capital Re to act as a capacity provider for Oka’s initial three years of operation, further enhancing Oka’s capacity to underwrite carbon credit insurance effectively.

This funding round underscores investors’ confidence in Oka’s mission to provide comprehensive insurance solutions tailored to the evolving needs of carbon credit markets. With this infusion of capital, Oka is well-positioned to strengthen its presence in the insurance industry and drive sustainable growth in the carbon credit insurance sector.

 Oka CEO Chris Slater commented on the raise, saying: “In a difficult market for venture funding and the VCM alike, we’re delighted by the vote of confidence in Oka. The capital committed by our brilliant investors and capital partners puts us one step closer to realizing our ambitious vision of insuring every carbon credit.”