Bain Capital Leads $37.5M Investment in Bitcoin Life Insurance Firm

Key Takeaways

Capitalizing on Growing Demand

Meanwhile, the life insurance company licensed to operate entirely in bitcoin, announced Oct. 8 that it has raised $37.5 million in a funding round led by Bain Capital Crypto. Existing backers participating in the round include Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital.

This latest capital injection brings total funding for the Sam Altman-backed entity to more than $180 million. In 2023, OpenAI CEO Altman and former Stripe executive Lachy Groom led one of Meanwhile’s two seed rounds, which raised $19 million.

According to a media statement, the investment round follows what the firm described as a major surge in international demand for bitcoin-denominated life insurance products, particularly across Europe, Asia, and the Middle East.

To support its global push, Meanwhile launched a new product in early 2026 for high-net-worth clients outside the United States. The product allows policyholders to pay a single premium in bitcoin to lock in a guaranteed, lifetime death benefit denominated in bitcoin. It joins the company’s flagship product line, BTC 10-Pay, which was designed for U.S. taxpayers.

Since introducing the new insurance product, BTC Life 1-Pay, Meanwhile has partnered with 15 international brokers serving affluent families across key wealth and insurance hubs. Some of the key broker partners include Lioner, an insurance, trust, and family office advisory firm operating across Hong Kong, Singapore, and Zurich, plus Apeiron Group.

“Digital assets are moving into the mainstream of wealth planning,” said Giorgio Jeni, partner and head of Switzerland at Lioner. “As bitcoin and other digital assets become part of the wealth landscape, high-net-worth individuals with international interests and ties are thinking more broadly about how they manage wealth for the future.”

Justin Man, CEO of Apeiron Group, highlighted the shifting dynamics in estate planning.

“We’re reaching a turning point where more high-net-worth clients are asking not just how to hold bitcoin and digital assets, but how to plan around them and ultimately transfer that wealth to the next generation,” Man said. “Meanwhile is the first insurance carrier to pioneer this space and has made a serious investment in serving high-net-worth clients.”

Innovative Policy Structure for Wealth Transfer

Under the BTC Life 1-Pay structure, policy values grow directly in bitcoin. After the first year, policyholders can borrow up to 90% of the policy’s cash value with no repayment schedule and no margin call risk. Policies can be held by individuals, trusts, or corporate entities, making them a versatile vehicle for cross-border succession and estate planning.

“Wealthy families around the world already hold bitcoin. What they haven’t had is a regulated way to pass it on,” said Zac Townsend, co-founder and CEO of Meanwhile. “Brokers came to us because their clients kept asking. This round lets us keep up with them.”

The company reported significant financial momentum, with net long-term underwriting income in 2026 already surpassing full-year results from 2025 and on track to more than double year-over-year.

“Meanwhile owns every layer of a regulated life insurer and builds it like an AI-enabled startup,” noted Stefan Cohen, partner at Bain Capital Crypto. “The growth this year proves the model, and we’re glad to back them again.”

Operating as Meanwhile Insurance Bitcoin, the company holds a Class IILT license from the Bermuda Monetary Authority granted in July 2024 following a two-year regulatory sandbox trial. Meanwhile keeps its balance sheet, reserve metrics, and audited financial statements denominated entirely in bitcoin. All policyholder reserves are secured with institutional-grade, regulated crypto custodians.