The venture capital operation of AXA has completed the second phase of its latest investment fundraising round.
AXA Venture Partners (AVP) revealed that the first closing of the second vintage of its Early Stage Fund (AVP Early Stage II) raised US$150 million. The first Early Stage Fund in 2015 raised US$110 million, and has since been successfully deployed.
AVP Early Stage II will focus on North America, Europe & Israel, just like the first funding round before it. The fund aims to invest in “outstanding technology businesses,” particular those involved in enterprise SaaS, consumer platform and SME solutions, a release said. AVP is giving particular attention to fintech and digital health for this investment round.
The second Early Stage Fund will write up to US$6 million to support entrepreneurs. Companies that receive AVP’s investment will be given business development opportunities with AXA and other relevant corporations as part of the deal.
“This fundraise was completed at a record speed with existing and new investors. This is a strong vote of confidence for our team and strategy, and a recognition of what has been achieved with our first Early Stage Fund,” said AVP managing partner Francois Robinet.
Robinet added that AVP still has one more investment fundraising closing.
“We plan to hold a second closing with additional new investors,” he said. “This fundraise strengthens AVP’s positioning as a leading player for ambitious entrepreneurs across Europe and North America.”