BNP Paribas Solar Impulse Venture Fund Raises €150m to Accelerate Ecological Transition
4 SEPT, 2024
By Jose Luis Palmer from RankiaPro Europe
BNP Paribas Asset Management (BNPP AM) announced today that its BNP Paribas Solar Impulse Venture Fund (BNPP SIVF) has successfully raised €150 million, reaching its minimum target in July 2024. With a final closing expected by the end of the year, the fund is poised to accelerate its investment activity, focusing on high-potential startups that drive ecological transition.
Focus on Ecological and Climate Tech Innovation
Managed by BNPP AM's Private Assets division, BNPP SIVF aims to make 15-20 investments in growth-stage startups across Europe and North America. The fund is the product of a collaboration between Bertrand Piccard’s Solar Impulse Foundation and BNP Paribas, and it operates under SFDR Article 9, signaling its commitment to sustainable investments.
The fund’s strategy targets sectors critical to the ecological transition, including energy transition, sustainable agriculture, circular economy, water management, smart cities, sustainable mobility, and industrial innovation. BNP Paribas has committed €75 million, with other institutional, corporate, and family office investors joining to support the fund's mission.
Key Investments to Date
The fund has already made several impactful investments, including:
- NatureMetrics (UK): A startup using environmental DNA to measure and monitor biodiversity.
- Phenix (France): A scale-up in the circular economy, focused on reducing food and non-food waste.
- Axioma (France): A bio-solutions startup working to mitigate plant hydric stress and advance sustainable agriculture.
- Hello Watt (France): A one-stop-shop for energy renovations, making sustainable home improvements more accessible.
- Chemix (USA): A tech company revolutionizing battery design through AI-driven innovation.
Ambitions for Future Growth
With a hard cap of €200 million, BNPP SIVF seeks additional investors to join BNP Paribas and the Solar Impulse Foundation in funding transformative ecological ventures. The fund’s ultimate goal is to accelerate the ecological transition by providing financial support to startups at the forefront of climate tech innovation.
As investment ramps up, the fund continues to seek strategic partnerships that align with its mission to foster sustainable, impactful growth.
We are delighted to have reached this milestone for the BNPP Solar Impulse Venture Fund and to have already invested in 5 flagship promising startups. Supporting best climate tech companies to accelerate ecological transition is our mandate and the team is eager to grow this activity within BNP Paribas Asset Management in the coming years, building bridges between our strong network and entrepreneurs, with the objective of accelerating their development and significantly changing their scale.
Yann Lagalaye, Managing Partner of the BNP Paribas Solar Impulse Venture Fund
BNPP SIVF’s successful closing is evidence of the strong interest of our client investors to actively contribute to tackling climate change, fully aligned with the long-standing commitment of BNP Paribas to support young and innovative cleantech companies. We will continue, along with the Solar Impulse Foundation, to identify and support game-changer companies for the ecological transition.
David Bouchoucha, Head of Private Assets at BNP Paribas Asset Management
