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BNP Paribas rolls out fintech investment fund

Friday 23 February 2018 | 10:50 AM CET

BNP Paribas has launched a new investment fund to take direct minority stakes in innovative startups that are boosting financial services and insurance.

The new fund, managed by BNP Paribas Capital Partners, will also make indirect investments through Venture Capital funds whose priorities in technologies - such as AI, data, blockchain, cyber-security - geographies and topics match those of its vrious business units and divisions.

BNP Paribas last year outlined plans to invest EUR3 billion in a three-year business plan to build the 'bank of the future'. It has since made a rash of strategic investments in firms at the forefront of the fintech innovation boom, such as Serena Data Venture, Viola Fintech, Ventech China, Symphony, Gambit, Caple as well as acquiring a 95% stake in French neo-bank Compte-Nickel.

The establishment of the new fund sees the bank formalise the outreach programme and step up its open innovation strategy.

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