Axa launches €10m seed fund

The fund will back digital start-ups developing technology that impacts the banking and insurance sectors. This follows a trend of French corporates launching venture funds that target innovative technology start-ups likely to impact their own industries.

French corporations SNCF, PSA Peugeot Citroën and Total (all active in the transportation industry) notably launched the €30m Ecomobilité Ventures vehicle at the end of 2011 – the fund targets businesses developing sustainable mobility products, services and technologies.

Investments
Axa Seed Factory will co-invest alongside business angels and venture capital firms. The fund will provide capital to French start-ups but will also act as an incubator and will aim to develop partnerships with Axa France.

People
Axa Seed Factory is led by Minh Q Tran, who previously held roles at Bertelsmann Media Ventures and Nokia Ventures. The team also comprises Amélie Oudéa-Castéra and Cécile Moulard.

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