TLDR:
- BNP Paribas AM raised $165 million for its BNP Paribas Solar Impulse Venture Fund focused on cleantech startups.
- The fund aims to make investments in sectors such as energy transition, sustainable agriculture, and sustainable mobility.
BNP Paribas AM Raises $165 Million for Article 9 Cleantech Solutions Venture Fund
BNP Paribas Asset Management (BNPP AM) has successfully raised €150 million (USD$166 million) for its BNP Paribas Solar Impulse Venture Fund (BNPP SIVF). The fund, established in 2021 through a partnership with Bertrand Picard’s Solar Impulse Foundation, focuses on investing in innovative cleantech startups with positive environmental impact to support the ecological transition. The fund aims to make 15 – 20 investments in European and North American startups across various sectors, including the energy transition, sustainable agriculture, and circular economy.
The fund has already made five investments, including companies like NatureMetrics, Phenix, and Hello Watt. The fund has a hard cap of €200 million and anticipates a final closing before the end of the year. BNP Paribas provided an initial commitment of €75 million at the fund’s launch, and it has since opened to third-party capital with a mix of institutional, corporate, and family office investors.
Yann Lagalaye, Managing Partner of the BNP Paribas Solar Impulse Venture Fund, emphasized the fund’s mission to accelerate the ecological transition by supporting climate tech companies. The fund’s goal is to bridge connections between entrepreneurs and investors to facilitate the development and scaling of innovative cleantech solutions.
