The rebranded investment company welcomed the European Investment Fund as an anchor investor in its Growth Fund I.
Axa Venture Partners, the former investment arm of French insurance company Axa, has announced its rebrand as Atlantic Vantage Point (AVP), becoming an independent private investment firm after the completion of its management buyout announced last year.
Axa will remain an anchor investor in its €1.5bn ($1.7bn) growth fund, AVP Growth I.
“Axa will continue to be a key partner and we are very honoured that George Stansfield, deputy-CEO of Axa, has accepted to remain chairman of our board,” François Robinet, managing partner at AVP, said in a release.
“We look forward to ensuring continuity for our investors and the entrepreneurs we back, fostering an entrepreneurial spirit among our team, and putting performance and excellence at the heart of our operations.”
The European Investment Fund (EIF) has also joined as an anchor investor in AVP’s Growth Fund I in a bid to strengthen Europe’s late-stage tech funding landscape and help to scale technology companies.
The investment is part of the European Tech Champions Initiative, which supports funds above €1bn, investing in late-stage technology companies to build a European platform competing and partnering with US investment platforms.
The fund has closed three transactions in the past year including cash management software firm Agicap and business management software provider Odoo.
“We are delighted that EIF joins us as an anchor investor in AVP’s new Growth Fund. Joining forces with such a prestigious investor will allow AVP to launch a unique fund in Europe, dedicated to the financing of large growth stage tech companies offering an opportunity for a new European platform to tap an attractive market, which has historically been led by US-based funds,” George Stansfield, deputy CEO of Axa, said.
This development follows last year’s news which saw Axa Venture Partners (AVP) become an independent VC firm after management negotiated to buy Axa’s 70% stake.
