BNP Paribas AM Closes Solar Energy VC Fund at €172M Capacity

BNP Paribas' asset management arm secured €172M (~$180.9M) in total capital commitments at the final close of BNP Paribas Solar Impulse Venture Fund, according to a January 23 news release.

The fund, a partnership between BNP Paribas Asset Management and Bertrand Piccard's Solar Impulse Foundation, generated support from LPs such as ADP Group, AGPM, BNP Paribas Cardif and Sogecap. Individual investors and family offices also participated in the fundraising.

BNP Paribas Solar Impulse Venture Fund's objective is to address ecological transition problems through the deployment of capital in energy transition, sustainable agriculture and food, the circular economy, biodiversity, smart cities, sustainable mobility and industrial innovation. So far, it has already deployed capital in NatureMetrics, Phenix, Axioma, Hello Watt and Chemix. It is still looking to invest in roughly 15 startups in Europe and North America, with new transactions expected to be disclosed soon.  

The French lender's asset management group has €591B (~$621.62B) of total AUM, according to its website. It will oversee the deployment of the fund through its private assets division.

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Written By: Dakota

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