AXA Venture Partners (AVP), a venture arm of the insurance behemoth AXA Group (formerly known as AXA Strategic Ventures), has raised its second fund of $150 million to invest in early-stage startups. It has also announced that the first iteration of the fund, for which it raised $110 million in 2015, has been deployed.
The new fund will invest tech startups at the pre-revenue and early revenue stages in Europe, Israel, and North America. The focus industries are enterprise SaaS, consumer platforms, and SME solutions, especially those related to fintech and digital health. AVP plans to invest up to $6 million per company.
Currently, AVP has some $600 million in assets under management through its three fund types — Early Stage Fund, Growth Stage Fund and Fund of Funds. Since 2015, it has invested in 40 startups and six funds. The firm's team is distributed between offices in San Francisco, New York, London, Paris and Hong Kong.