The new fund, 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 vrious business units and divisions.
BNP Paribas last year outlined plans to invest EUR3 billion in a three-year business plan to build the bank of the future. It has since made a rash of 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.
The establishment of the new fund sees the bank formalise the outreach programme and step up its open innovation strategy.
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