AXA Venture Partners hits $150m first close for second early-stage-focused fund

Tech investor AXA Venture Partners has raised $150m for the first close of its second early stage fund.

The firm’s first close has already put ahead of its first early-stage fundraise which closed on $110m back in 2015 and is now fully deployed.

AVP Early Stage II will focus on early-stage tech business located in North America, Europe and Israel. The firm is seeking opportunities in the enterprise SaaS, consumer platform and SME services sectors with particular focus on FinTech and digital health.

Axa’s previous FinTech investments include mobile on-demand insurance platform Verifly, Fundshop, an online platform dedicated to helping its users build and manage their savings investment portfolio easily, and GoldBean, an online platform where wannabee-investors can start their personalized portfolio and manage their investments.

AVP has planned to make initial investments up to $6m and will offer portfolio companies business development opportunities with AXA and other relevant corporations.

AVP managing partner Francois Robinet said, “This fundraise was completed at a record speed with existing and new investors. This is a strong vote of confidence for our team and strategy, and a recognition of what has been achieved with our first Early Stage Fund.

“We plan to hold Paris – London – New York – San Francisco – Hong Kong a second closing with additional new investors. This fundraise strengthens AVP’s positioning as a leading player for ambitious entrepreneurs across Europe and North America.”

AVP, which is backed by insurance giant AXA, rebranded from AXA Strategic Ventures in April last year. The firm has $600m of assets under management through its
early stage, growth stage and fund of funds strategies.

Last week the firm joined investors in a $33.5m Series C funding round for cloud-based enterprise software developer for the employee benefits industry, Limelight Health.

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