The European Investment Fund (EIF) has announced it has committed a “significant investment” in the AVP Growth Fund I. The EIF joins AXA as an anchor investor.
AVP (Atlantic Vantage Point) is a global investment platform s upporting tech firms in Europe and North America. It currently manages approximately €2.5 billion of assets across four investment strategies: venture, early growth, growth and fund of funds. Since 2016, AVP has invested in more than 60 tech firms and in more than 60 funds.
The investment by EIF is said to be part of the European Tech Champions Initiative (ETCI) that supports funds above €1 billionn investing in late-stage technology companies to compete and partner with top-tier US investment platforms.
The AVP Growth Fund I has already closed three transactions over the past year, including Agicap and Odoo. The goal is to fill the market gap in funding for European private ventures.
So far, ETCI has committed over €2.2 billion in 9 different scale-up tech funds. These funds have already invested in European companies operating in areas such as cybersecurity, artificial intelligence, Fintech, biotechnology, and healthcare.
Marjut Falkstedt, EIF Chief Executive saidt AVP’s scaling strategy through the ETCI initiative to provide significant backing for major European funds, and a will contribute to the emergence of European leaders in key sectors for the future.
