BNP Paribas fires up new investment fund for start-ups

More help is on the way for fintech and insurtech start-ups with the unleashing of a new fund by BNP Paribas. The fund will be managed by BNP Paribas Capital Partners, an arm of BNP Paribas Asset Management that specialises in selection and multi-management in the alternative investments field. Jacques d'Estais, BNP Paribas group deputy COO and head of international financial services, says the fund "will give added firepower to our investment strategy, complements the other initiatives we've already set in motion, including our partnership with Plug and Play, our Station F space and our Startup Engagement Kit". The fund will take direct minority stakes, on behalf of the various BNP Paribas' businesses, in financial services and insurance start-ups. It will also make indirect investments through venture capital (VC) funds in technologies such as artificial intelligence (AI), data, blockchain and cybersecurity.