AXA Venture Partners (AVP), a global venture capital firm specialising in high-growth, technology-enabled companies, announced the launch of a new strategy, targeting late-stage tech companies with a €1.5bn fund.
AVP, with a track record of deploying capital across 60 technology companies in the US and Europe, is set to significantly bolster its portfolio with this new initiative.
The fund, half of which is invested by insurance and asset management leader AXA, is unique in the European landscape. AXA has pledged to invest €750m as the anchor investor in AVP’s Late Growth strategy, thereby demonstrating its unwavering commitment to support the tech ecosystem and AVP’s ambitions.
AVP’s newly launched strategy aims to provide pivotal investment in global tech leaders based in Europe and North America. Its investment support will extend through the initial public offering (IPO) stage and potentially beyond, as a long-term investor. Furthermore, the strategy strives to bolster the European tech financing environment, addressing the current capital gap experienced by late-stage European tech companies.
The substantial funds raised will be utilised to support global tech leaders, particularly in Software, FinTech/InsurTech, Digital Health, and Consumer technologies. AVP will seek out companies with proven product market fit, strong sales execution, and global expansion plans. These companies should also exhibit potential for IPO within the next three to four years.
AVP plans to bring new talents into its team in Europe and North America in order to efficiently execute its strategy. The future fund will facilitate the leading of rounds with initial investment sizes of up to €150m and will build a portfolio of the most promising late-stage tech companies, with a target of 12 to 15 companies.
Marco Morelli, member of AXA Management Committee, AXA IM CEO and Chairman of AVP, expressed his satisfaction with the launch of the new AVP strategy. He said, “We are very happy and proud with the launch of the new AVP strategy. I am also extremely happy to see the commitment of AXA, as an anchor investor, with an intended significant investment of €750m. We clearly see the long-term value- creation potential of technology in general.”
Previous to this, AVP has successfully raised €1.3bn of assets under management since its inception in 2016.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global