- – European Investment Fund (EIF) joins as an anchor investor in AVP’s Growth Fund I, strengthening Europe’s late-stage tech funding landscape and aiming to scale rapidly growing, large technology companies
- – AVP Growth I aligns with ETCI’s objective of supporting European tech companies and propelling their growth journeys
European Investment Fund (EIF) announced today it has joined AXA as an anchor investor and committed a significant investment in AVP Growth Fund I, making AVP the only transatlantic investment platform for technology investments selected by EIF. The investment is part of the European Tech Champions Initiative (ETCI) that supports funds above €1bn investing in late-stage technology companies helping to build a world class European investment platform able to compete and partner with top-tier US investment platforms.
The EIF backing is a key catalyst for AVP Growth Fund I, which has closed three transactions over the past year including Agicap and Odoo. The Growth fund addresses a clear market gap in Europe for a European tech platform investing in growth-stage tech investments, offering European entrepreneurs a differentiated alternative to premier US Growth funds and Sovereign Wealth Funds.
ETCI impact
ETCI is creating a positive dynamic in the European investor market and the tech ecosystem since launching in 2023. To date ETCI has committed over €2.2 billion in 9 different scale-up technology funds, expected to mobilise €10 billion public/private resources to support investment in fast-growing high-tech companies. ETCI-backed funds have already invested in European companies operating in areas such as cybersecurity, artificial intelligence, financial technologies, biotechnology, and healthcare.
ETCI contributes to meeting the financing needs faced by European technology scale-ups, preventing them from relocating overseas and reinforcing Europe’s strategic autonomy and competitiveness. ETCI is also a strong contributor to the integration of the financial markets in Europe and represents an example of how the EIB Group can pioneer the Capital Markets Union.
Ambroise Fayolle, vice-president of EIB Groupe declared: “This promising equity Investment illustrates how Europe, through the ETCI Initiative involving EU member States and the EIB Group, can succeed in supporting investment funds which, in turn, will provide financing for European technology champions.”
Marjut Falkstedt, EIF Chief Executive declared: ” We are delighted to be able to support AVP’s scaling strategy through the ETCI initiative to secure financing for future European leaders who have understood how technology can be used to create value. ETCI was designed to provide significant backing for major European funds, and a player such as AVP is in a strong position, thanks to its experience and performance, to contribute to the emergence of European leaders in key sectors for the future.
François Robinet, Managing Partner, AVP said: “Today marks an impressive milestone for AVP and our team. We are honoured to welcome EIF, as an anchor investor as part of the European Tech Champions Initiative in our Growth fund to support an underserved part of the growing tech market in Europe. Through our multi-stage platform, we now have the capacity to support outstanding entrepreneurs along their journey, from early stages to IPO, in Europe and in North America. We will strive with our Growth fund to be “best-in-class” for our investors by nurturing the best possible tech companies”.
On this occasion, AXA Venture Partners, has announced the completion of its Management Buyout, becoming an independent private investment company. AVP will continue to work closely with AXA and build on the strong relationships developed over the past ten years. Following the completion of the transaction, the company will rebrand as AVP.
Background information
About EIF
The European Investment Fund is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.
About AVP
AVP (Atlantic Vantage Point) is an independent global investment platform dedicated to high-growth, tech (from deep-tech to tech-enabled) companies across Europe and North America, managing more than €2.5bn of assets across four investment strategies: venture, early growth, growth and fund of funds. Our multi-stage platform combines global research with local execution to drive investment. Since its establishment in 2016, AVP has invested in more than 60 technology companies and in more than 60 funds with the Fund of Funds investment strategy. Beyond providing equity capital, our expansion team works closely with founders, providing the expertise, connections and resources needed to unlock growth opportunities, and create lasting value through meaningful collaborations. For more information about AVP, please visit our new website: www.avpcap.com