France-based insurance provider AXA launched a €200m ($226m) venture capital fund yesterday that will fund startups operating in the insurance, asset management, financial technology and healthcare service sectors.
AXA Strategic Ventures will operate from offices in San Francisco and New York, but will seek to invest in companies worldwide. It is intended to complement AXA’s existing research and digital development activities.
Anders Malmstrom, chief financial officer of AXA US and a member of AXA Strategic Ventures’ strategy committee, said: “We will target emerging companies at all stages of growth that are strategically relevant and offer attractive returns.
“The fund advances our digital and customer strategy in the US by connecting our people and our business with new technologies, new solutions and new ways of thinking.”
AXA Strategic Ventures concurrently revealed investments in five France-based portfolio companies, which it will provide with technical expertise and market access alongside funding.
The five startups in question are crowdfunding software developer Particeep, data organisation tool Widmee, airfare forecasting service Flyr International, financial advisory service provider Fundshop and insurance and weather-risk management platform ClimateSecure.