The new fund will be managed by BNP Paribas Capital Partners, an arm of BNP Paribas Asset Management that specialises in selection and multi-management in the alternative investments field.
The fund will take direct minority stakes, on behalf of the various BNP Paribas’ businesses, in innovative startups that are reinventing financial services and insurance. Its objective is to support startups by operating in total alignment with entrepreneurs and investors toward success.
It will also make indirect investments through Venture Capital funds whose priorities in technologies (such as AI, data, blockchain, cyber-security…), geographies and topics match those of the BNP Paribas’ businesses.
A number of strategic investments has been already made over the last year, including in Serena Data Venture, Viola Fintech and Ventech China.
With the establishment of this new investment fund, BNP Paribas is stepping up its Open Innovation strategy. The fund complements a range of initiatives already launched with the intention of driving forward the Group’s policy of working closely with promising startups.
It will moreover give the entrepreneurs involved a deeper understanding of the investment process and improve its efficiency.
“At BNP Paribas, we’re firmly convinced that Open Innovation is a powerful driver for the transformation that will help to build the bank of tomorrow and enable us to continue to provide our clients with high value-added products and services,” underlined Jacques d'Estais, BNP Paribas Group Deputy COO and Head of International Financial Services, adding: “This will require us to put in place innovative, complementary mechanisms. The new fund, which will give added fire-power to our investment strategy, complements the other initiatives we’ve already set in motion, including our partnership with Plug and Play, our Station F space and our Startup Engagement Kit, which was recently highlighted on the FrenchTech label.”
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporate and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
About BNP Paribas Capital Partners
BNPP Capital Partners is BNP Paribas Asset Management’ specialist in the multi-management, selection and incubation of managers within the alternative investment universe (including absolute return, private equity funds, etc…). As at 30 September 2017, BNP Paribas Capital Partners manages, advises and administers assets totalling about €6.5 billion and provides a wide range of services tailored specifically to the needs of investors (Advisory Mandates, Discretionary Mandates, Funds of Funds, Feeder Funds and bespoke solutions).