AVP holds $150m first closing for second early-stage fund

The fund has a $180m hard-cap and is larger than its predecessor, AVP Early Stage Fund I, a $110m vehicle raised in 2015, which has now been fully deployed.

AVP, previously known as Axa Strategic Ventures, is backed by global asset manager Axa and specialises in seed, venture and growth-stage transactions. The firm was launched in 2015 and has completed 40 early-stage and growth-equity deals, as well as six fund investments. It operates five offices based in Paris, London, San Francisco, New York and Hong Kong.

Investors
According to a statement, the fundraising was fast and generated strong interest from existing and new investors. The firm plans to hold a second closing with additional new LPs in the coming months.

Investments
AVP Early Stage II will focus on technology businesses based in North America, Europe and Israel that have high-growth potential, both in pre- and early-revenue stages. In particular, the fund will target companies operating in the enterprise software and consumer technology sectors, with a special focus on fintech and digital health.

AVP Early Stage II will deploy initial tickets of up to $6m and will support its portfolio companies by providing them with business development opportunities with Axa and other global corporations.

People
Axa Venture Partners – Francois Robinet (managing partner).

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• Topics
• Funds
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• Axa Private Equity
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