Climate Insider Brief:
- BNP Paribas Asset Management closed its BNP Paribas Solar Impulse Venture Fund (BNPP SIVF) with €172 million, surpassing its initial target.
- The fund, launched in partnership with the Solar Impulse Foundation, aims to invest in approximately 15 cleantech startups driving ecological transition across Europe and North America.
- The fund targets sectors like energy transition, circular economy, sustainable agriculture, and smart cities.
BNP Paribas Asset Management (BNPP AM) has announced the successful final close of its BNP Paribas Solar Impulse Venture Fund (BNPP SIVF), raising €172 million (USD $179 million) and exceeding its initial target. The fund, launched in 2021 in partnership with Bertrand Piccard’s Solar Impulse Foundation, focuses on cleantech startups driving positive environmental change and accelerating the ecological transition.
Investing in Innovation for a Sustainable Future
The BNPP SIVF, classified under the SFDR Article 9 framework, aims to invest in approximately 15 high-growth startups across Europe and North America. The fund prioritizes sectors such as energy transition, sustainable agriculture, circular economy, water and ocean management, smart cities, sustainable mobility, and industrial innovation.
BNP Paribas provided a cornerstone commitment of €75 million at the fund’s inception. The strategy was later opened to third-party capital, attracting a diverse range of investors, including ADP Group, institutional investors such as AGPM, BNP Paribas Cardif, and Sogecap, as well as family offices and individual investors.
Accelerating the Ecological Transition
Yann Lagalaye, Managing Partner of the BNP Paribas Solar Impulse Venture Fund, expressed enthusiasm for the milestone:
“We are thrilled to close on the BNPP Solar Impulse Venture Fund above the initial target size, particularly in such a challenging funding environment, and would like to thank our investors for their trust and support. While fundraising, we have already invested in 5 flagship promising startups.”
The fund’s initial portfolio includes:
- NatureMetrics: A UK-based biodiversity measurement and monitoring solutions provider.
- Phenix: A French circular economy scale-up reducing food and non-food waste.
- Axioma: A French bio-solutions company helping agriculture manage hydric stress.
- Hello Watt: A French startup simplifying and enhancing energy renovations for homeowners.
- Chemix: A US-based tech company developing next-generation battery designs.
New investments are expected to be announced soon, complementing the current portfolio and further driving the fund’s ecological objectives.
Bridging Profitability and Sustainability
Bertrand Piccard, Founder and Chairman of the Solar Impulse Foundation, underscored the fund’s significance:
“At the Solar Impulse Foundation, our mission is to identify and support solutions that can protect the environment in a profitable way. The BNP Paribas Solar Impulse Venture Fund embodies this goal, combining environmental leadership with tangible impact and monetary returns. Its success proves that investors are ready to back transformative activities that pave the way for a sustainable future. Private capital has a crucial role to play in accelerating the ecological transition, and we look forward to seeing even more impactful and innovative solutions bloom thanks to this initiative.”
A Bright Future for Cleantech
The successful close of the BNPP SIVF highlights the growing appetite for investments that align with sustainability goals. By backing innovative startups, BNP Paribas Asset Management and its partners are paving the way for a greener, more sustainable future while demonstrating the profitability of environmental leadership.
Source: ESGToday
Featured Image: Credit: BNP Paribas
