BNP Paribas Asset Management (BNPP AM) has announced that the BNP Paribas Solar Impulse Venture Fund (BNPP SIVF) has reached its initial target of €150 million as of July 2024. The fund, developed in collaboration with Bertrand Piccard’s Solar Impulse Foundation, aims to drive ecological innovation by investing in high-potential startups across Europe and North America. With a focus on climate tech, sustainable agriculture, circular economy, and sustainable mobility, the fund seeks to accelerate the ecological transition through strategic investments in companies contributing to a more sustainable future. Managed by the Private Assets division within BNPP AM, the BNPP SIVF plans to make 15 to 20 strategic investments, each carefully chosen for its potential to make a significant impact on environmental sustainability. Yann Lagalaye, Managing Partner of the BNP Paribas Solar Impulse Venture Fund, emphasized the importance of supporting companies at the forefront of climate technology. “Our mission is to support the best climate technology companies to accelerate the environmental transition,” LaGalaille said. He emphasized the team’s commitment to foster growth by connecting a strong network of resources with forward-thinking entrepreneurs. The fund has made some early stage investments in companies at the forefront of environmental and technological advancements. Including NatureMetrics, a UK-based startup that specializes in using natural DNA to monitor biology. Another French company is Phenix, which is dedicated to reducing food and non-food waste through innovative circular economy methods. Other notable investments include Axioma, Hello Watt and Chemix, each contributing unique solutions and technologies to environmental issues. David Bouchocha, head of private equity at BNP Paribas Asset Management, confirmed that the fund’s goals are linked to the increased commitment of BNP Paribas to prevent the change of the sky “The successful conclusion of the BNPP SIVF is proof of the strong will of our customers to play an active role in the fight against climate change,” said Buchocha. He added that BNP Paribas, together with the Solar Impulse Foundation, will continue to find and support companies that are ready to change the game in the environmental transition. The fund, which has a ceiling of 200 million euros, is open to other small partners that share the vision of promoting environmental exchange. Having reached the initial goal of 150 million euros, BNPP SIVF is actively inviting like-minded partners to join its project and strengthen its impact on sustainable investments. Fund growth and strategic investments stand to significantly promote environmental change and strengthen BNP Paribas’ role as a leader in sustainable finance.
