BNP Paribas Asset Management (BNPP AM) announced today the final close of its BNP Paribas Solar Impulse Venture Fund (BNPP SIVF), overpassing its target size and reaching €172m.
This capital will enable BNPP SIVF, managed by the Private Assets division within BNPP AM, to invest into circa 15 European and North American high-potential growth startups. BNPP SIVF is the result of an exclusive partnership between Bertrand Piccard’s Solar Impulse Foundation[1] and BNPP AM.
This SFDR article 9 fund, also Tibi labelled, is tackling ecological transition issues in a broad sense, targeting sectors such as the energy transition, sustainable agriculture and food, circular economy, biodiversity, smart cities, sustainable mobility, and industrial innovation.
The team managed to gather a diverse group of like-minded limited partners (LPs) including corporate companies such as ADP Group, institutional investors such as AGPM, BNP Paribas Cardif and Sogecap, and individuals and family offices, all willing to act alongside BNP Paribas (€86m committed) and the Solar Impulse Foundation to accelerate the ecological transition.
The fund’s first investments include:
- NatureMetrics, a UK start-up developing a measurement and monitoring of biodiversity solution based on environmental DNA samples;
- Phenix, a French scale-up active in the circular economy, dedicated to reducing food and non-food waste;
- Axioma, a promising French bio-solutions start-up which targets to accelerate the ecological transition of agriculture mitigating hydric stress for plants;
- Hello Watt, a disruptive energy renovation one-stop shop to make it simpler, more efficient and more accessible for homeowners;
- Chemix, a US tech company revolutionizing next-generation battery design thanks to their GenAI-powered self-driving lab.
New investments are expected to be announced soon to complement this initial portfolio.
Yann Lagalaye, Managing Partner of the BNP Paribas Solar Impulse Venture Fund explains:
“We are thrilled to close on the BNPP Solar Impulse Venture Fund above the initial target size, particularly in such a challenging funding environment, and would like to thank our investors for their trust and support. While fundraising, we have already invested in 5 flagship promising startups. Stay tuned, more to come! Supporting best climate tech companies to accelerate globally the ecological transition is our mandate and the team is eager to continue the deployment of the Fund in the coming years, building bridges between our strong network, the Solar Impulse foundation network and flagship entrepreneurs, with the objective of accelerating their development and significantly changing their impact.”
Bertrand Piccard, Founder of the Solar Impulse Foundation comments:
“At the Solar Impulse Foundation, our mission is to identify and support solutions that can protect the environment in a profitable way. The BNP Paribas Solar Impulse Venture Fund embodies this goal, combining environmental leadership with tangible impact and monetary returns. Its success proves that investors are ready to back transformative activities that pave the way for a sustainable future. Private capital has a crucial role to play in accelerating the ecological transition, and we look forward to seeing even more impactful and innovative solutions bloom thanks to this initiative.”
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