Axa Venture holds €200m first close for Diversified II

The vehicle is targeting €250m for its final close before the end of 2020.

Launched in February 2020, the fund is the second vintage of AVP's fund-of-funds strategy. Its predecessor, AVP Diversified I, a €150m vehicle raised in 2017, has now been deployed.

AVP Diversified II will continue to be managed by a team led by Dominic Maier, who was promoted to partner alongside the launch of the fund.

Investors
The fund's LP base consists of existing investors in AVP Diversified I, as well as new backers.

Investments
Similar to its predecessor, AVP Diversified II will continue to focus on both coasts of the US, Europe, Israel and Asia, with a particular focus on China. On an opportunistic basis, AVP Diversified II may also invest in funds established in other emerging regions globally.

The vehicle will aim to invest in seed-, early- and growth-stage tech-focused funds. It will also invest in secondary opportunities. Given the current market environment, the GP believes that secondary transactions have the potential to form a significant part of the portfolio, according to a statement.

People
Axa Venture Partners – François Robinet (managing partner); Dominic Maier (partner).

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