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BNP Paribas sets up new investment fund

BNP Paribas has set up a new investment fund to take direct minority stakes in innovative startups in banking and financial services domain. The fund, to be managed by BNP Paribas Capital Partners, will also make indirect investments through venture capital funds whose priorities in technologies – such as AI, data, blockchain, cyber-security – geographies and topics match those of its various business units and divisions. The bank had unveiled plans to invest3 billion euros in a three-year business plan to build the ‘bank of the future’. It has since made several strategic investments in firms at the forefront of the fintech innovation boom, such as Serena Data Venture, Viola Fintech, Ventech China, Symphony, Gambit, Caple as well as acquiring a 95% stake in French neo-bank Compte-Nickel.

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