AXA reportedly rebrands £55m fund to focus on FinTechs

AXA Investment Management has reportedly rebranded its £55m Framlington Fund to focus on making FinTech investments.

The AXA Framlington FinTech Fund, which is now around 35 years-old, will now look to invest into FinTech solutions across the financial ecosystem, according to various reports in the media. Previously the vehicle had backed traditional banks an insurance firms across the UK, they state.

Despite the change of direction, the fund will continue to be managed by Vincent Vinatier and make long-term capital growth investments, they said.

AXA is already a big investor into the FinTech space, having closed a €150m fund of funds last year to back FinTech/InsurTech’ funds. The vehicle makes contributions between $5m to $15m, but some deals might be bigger or smaller than this figure. AXA has an aim of around 15 funds to back.

Earlier in the year, AXA Hong Kong outlined plans to invest HK $200m ($25m) capital injection into the development of the FinTech environment into the country. This equity line is three-times larger than its commitment last year.

Last month, AXA led the €8m Series A round into insurance and protection-as-a-service company Setoo. The company provides e-businesses with a solution to create and sell protection tailored to customer needs.

Copyright 2018 FinTech Global

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