BNP Paribas Asset Management has launched a new technology investment fund headed by Parvest SICAV.
The vehicle, Parvest Disruptive Technology, is currently valued at €181m, and will invest into businesses using technology that is transforming industries. This fund’s portfolio will consist of between 30 to 50 holdings in companies with a minimum market capitalisation of $1bn, and are on the MSCI World Index.
Within the technology sector the firm has a keen interest in cloud computing, artificial intelligence, data analytics, automation and robotics, augmented & virtual reality, and the internet of things. Some of the technology use cases BNP is interested in, include: financial digitisation, fraud prevention, payment technology and blockchain.
In the past the BNP has made a range of investments in to the FinTech sector, with the firm recently acquiring a 10 per cent stake in SME credit specialist Caple. The formation of this partnership will help the company to support the launch of its newest solution for SME loans.
Parvest Disruptive Technology manager Pam Hegarty said, “The impact of technological innovation is being felt across a broad range of areas beyond just the technology sector itself. It is having a widespread impact on many aspects of our daily lives, and brings with it many exciting investment opportunities.
“Parvest Disruptive Technology identifies and invests in those companies that are leaders in or beneficiaries of transformational technologies, while avoiding those that are threatened by the forces of change.”
Some of the other companies currently in the firm’s portfolio include blockchain-powered enterprise and stakeholder network solution Stratumn, big data solution Datasine and financial professionals messaging and collaboration platform Symphony.
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