Axa Strategic Ventures (ASV), the corporate venture capital arm of France-headquartered insurance group Axa, has launched a $175m fund-of-funds scheme called ASV Diversified that will make investments in selected VC funds.
ASV has already been equipped with $275m to make direct investments in startups in areas such as enterprise software, fintech, digital health and consumer technologies. ASV Diversified will provide between $5m and $15m for seed, early and growth-stage VC funds.
The initiative will be headed by Dominic Maier, who has been recruited from investment management firm Adams Street Partners where he was vice-president. Maier, who has been appointed principal, will report to ASV’s managing director, François Robinet.
Robinet said: “With the appointment of Dominic, it is also the official launch of our fund-of-funds activity and I am convinced it will reinforce our approach to invest globally in great entrepreneurs. Dominic is an experienced investor who already successfully invested in top-tier funds.”
ASV’s portfolio so far includes blockchain technology developer Blockstream, cloud cybersecurity software provider SecurityScorecard and online insurance platform One.