AXA Launches a €200 million Venture Capital Fund to Foster Innovation and Improve Customer Experience
AXA today announced the launch of AXA Strategic Ventures (AXA SV), a €200M venture capital fund dedicated to investing AXA Group money in budding strategic innovations in the insurance, asset management, financial technology and healthcare service inLed by François Robinet, with a presence in San Francisco, New York, London, Paris, Zurich and Berlin, and plans to launch a presence in Asia in the near future, AXA SV will have on-the-ground coverage of investment opportunities across the globe on behalf of AXA Group companies.
Through AXA Strategic Ventures, we will leverage our global reach, capital and scale to serve as an accelerating force for start-up companies which have the potential to bring new approaches to the insurance model. We are aiming through this investment to better serve our customers and improve our daily interactions with them.
AXA is launching AXA SV in order to harness technological disruption for the benefit of AXA Group companies. The quality of interactions with customers is a priority for the Group. Complementing internal efforts to improve customer experience by bringing in new approaches, technologies and business models being developed by young innovative companies can only lead to stronger results. The Group will aim to provide these start-up companies with funding expertise and market access, bringing together their entrepreneurial agility and the experience of a global leader in financial services.
“Through AXA Strategic Ventures, we will leverage our global reach, capital and scale to serve as an accelerating force for start-up companies which have the potential to bring new approaches to the insurance model. We are aiming through this investment to better serve our customers and improve our daily interactions with them”, said Henri de Castries, Chairman and CEO of AXA.
AXA has already successfully seeded start-ups in Europe, with investments in five companies through the “AXA Seed Factory” - a seed fund launched in France in June 2013 and that will now be part of AXA SV: Particeep, Widmee, Flyr International, Fundshop and ClimateSecure. These firms bring the latest technology to the areas of, respectively, investing, customer acquisition, travel insurance, portfolio management and climate change consulting. AXA SV will invest AXA Group money in various fields such as healthcare, peer-to-peer insurance, micro-insurance, data analytics, etc; thereby not only contributing to a stronger customer experience, but also anticipating their needs.
Find more information on AXA Strategic Ventures: www.axa.com, www.axastrategicventures.com
AXA Strategic Ventures’ portfolio companies to date:
- Particeep: https://www.particeep.com/accueil
- Widmee: http://www.widmee.com/
- FlyR International: http://flyrlabs.com/
- Fundshop: https://www.fundshop.fr/fr/
- ClimateSecure: http://www.climatesecure.eu/
Biography of François Robinet - Chairman of AXA Strategic Ventures
François Robinet was most recently Chief Executive Officer of AXA Life Invest, a company specializing in retirement solutions. He has previously served as the Chief Executive Officer of the global investment management firm AXA Rosenberg and as Chief Risk Officer of AXA Group. He holds master’s degrees from Stanford University and the Ecole Nationale de la Statistique et d’Administration Economique - National School of Statistics and Economic Administration - , as well as a Ph.D. from the Centre des Hautes Etudes d’Assurance - Center for Advance Insurance Studies. He is a member of the Strategic Committee of FTV Capital. He is a member of the Board of Directors of a number of AXA companies, and of the Microcred Group, a portfolio company that expands the reach of financial services to micro, small and medium entrepreneurs. François is also a member of the Advisory Board of FTV Capital, an investment company specialized in late stage Fintech investments located in San Francisco.
ABOUT THE AXA GROUP
The AXA Group is a worldwide leader in insurance and asset management, with 157,000 employees serving 103 million clients in 59 countries. In 2014, IFRS revenues amounted to Euro 92.0 billion and IFRS underlying earnings to Euro 5.1 billion. AXA had Euro 1,277 billion in assets under management as of December 31, 2014.
The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.
The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.
It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.