Captive manager rebrands, raises $12 million

XN Companies Inc., a captive manager targeting middle-market companies, said Wednesday it has rebranded as Luzern Risk and raised $12 million in funding.

The Series A funding for New York-based Luzern Risk was provided by Caffeinated Capital Management LLC, a San Francisco-based venture capital company.

Luzern Risk was founded in 2023 and offers captive management services via a digital platform.