NewAlpha receives the support of the "French Tech Acceleration fund" and announces the final closing of its Fintech Venture Capital fund
NewAlpha Asset Management (“NewAlpha”), an expert in investments targeting the entrepreneurial financial industry worldwide, launched the first French venture capital fund dedicated to Fintech companies in November 2015.
Following the injection of €15m in capital by the French Tech Acceleration fund, managed by Bpifrance as part of the French Tech initiative and financed by the Investments for the Future Programme (PIA), NewAlpha has closed, within the timeframe originally anticipated, its first venture capital fund at €56 million.
The fund, targeted to French institutional investors (banks, insurers, pension funds), aims to build and develop a diversified portfolio of innovative FinTech and InsurTech startups. Additionally, it allows limited partners to keep a close eye on the technological changes affecting banking, insurance and asset management.
Primarily invested in un-listed French FinTechs, the fund benefits from a strong European deal flow generated by the unique ecosystem that NewAlpha has developed with its shareholders, investors, affiliate asset managers and NewAlpha’s expertise in structuring seeding and incubation deals in France and abroad.
NewAlpha FinTech was the most active French Capital Venture fund dedicated to FinTech in 2016. Most notably, it was the lead investor in several startups, including Heoh, iTrust, Unilend, Lydia, TrackInsight and most recently Wikifolio, the fund’s first European investment.
These start-ups benefit from the financial and business support that NewAlpha has been providing for several years to its other incubation funds, dedicated to emerging asset managers.
The French Tech Acceleration Fund, created within the framework of the French Tech Initiative in 2014 and funded with €200m over 5 years, is managed by Bpifrance. The Fund is financed by the Investments for the Future Programme (PIA), overseen by the General Commissariat of Investment (CGI) to invest in private acceleration structures (accelerators, startup studios, acceleration investment funds ...). Nearly €70m have now been committed by the French Tech Acceleration Fund in more than 10 investments.
Lior Derhy, Director of Private Equity at NewAlpha:
« With our NewAlpha FinTech fund, we wanted to combine our expertise in the financial industry with the best practices of Venture Capital and incubation. We met with several hundred startups since the end of 2015, which confirms the depth and dynamic of FinTech opportunities in France and Europe. The constructive evolution of the relationships between the industry’s established players and startups should lead to a strong democratization of FinTech innovations and offer attractive investment opportunities. »
«We are happy to support NewAlpha’s team and their FinTech fund, which is based on a model of operational support via immersion in NewAlpha’s ecosystem in the financial industry.” »
Antoine Rolland, CEO of NewAlpha concludes:
«NewAlpha’s development strategy is based on the broadening of our innovation-oriented areas of expertise. Our FinTech fund’s positioning, now well-established, reflects our expertise and our ability to offer investment solutions that create value for both institutional investors and entrepreneurs.»
*This fund is exclusively reserved for professional clients as defined by the MiFID Directive.
Heoh: Heoh offers an innovative multi-channel technological solution for collecting and managing donations which associates companies, NGOs, local communities and financial services operators.
ITrust: With its innovative solutions based on behavioral analysis and Artificial Intelligence, iTrust enjoys a unique position in France’s cybersecurity market.
Unilend: French pioneer in crowdlending for SMEs, Unilend exploits the growth of alternative financial channels and supports the migration of household savings toward the real economy.
Lydia: Through an innovative payment service via mobile phones, Lydia offers individuals and professionals the ability to transfer money instantly.
TrackInsight: TrackInsight offers professional investors looking at ETFs advanced analytical tools and an independent, simple and transparent rating system that is now well-recognized by the industry.
Wikifolio: The European leading online social trading platform enables private individuals and professional managers to publish their investment strategies in real-time via virtual portfolios that can be replicated by publicly-traded certificated that are easily accessible to savers.
NewAlpha Asset Management provides qualified investors with a privileged access to the most innovative and dynamic firms of the financial industry thanks to a full range of products and services.
On behalf of its clients, NewAlpha selects, finances and accompanies innovative entrepreneurial projects, mainly in asset management but also in sectors that are closely related, such as financial technologies or services for investment managers.
Europe’s leading specialist in emerging manager seeding for institutional investors, NewAlpha has concluded more than 70 strategic partnerships and invested more than 1.5 billion € in French and international investment management boutiques. NewAlpha has been one of the world’s most active allocators in this space with more than 700 million € allocated through 28 partnerships since 2012.
As a subsidiary of Group La Française, NewAlpha Asset Management is regulated by France’s Autorité des marchés financiers (AMF). La Française is controlled by the Caisse Fédérale of the CMNE and forms one of the CMNE’s three business lines, Asset Management, the others being Banking and Insurance.
French Tech is a new generation of talented entrepreneurs creating their startups and aiming for global leadership. It is a collective gathered behind a brand, an emblem, which brings together all those whom, from entrepreneurs to investors, develop, innovate and contribute to the dynamism and growth of French startups.
It is also an innovative public initiative created in November 2013 within the Ministry of Economy and Finance, supporting the collective to place France among the greatest startups nations, through 3 actions:
- Federate a collective everywhere in France
- Accelerate the growth of startups
- Promote France and French Tech internationally
Bpifrance, a subsidiary of Caisse des Dépôts and the French State, is a trusted partner of entrepreneurs which provides companies with credit, collateral and equity financing support - from start up through to stock exchange listing. In partnership with Business France, Bpifrance also provides guidance and enhanced support services for innovation, external growth, and export. Bpifrance offers companies a range of financing for each key stage in their development, and an offer adapted to regional particularities. With 47 regional offices (90% of decisions are made regionally), Bpifrance offers entrepreneurs a tool for economic competitiveness. Bpifrance works in support of the public policies pursued nationally and regionally by the French government, to meet three objectives: • support the growth of businesses • prepare for future competitiveness • contribute to the development of an ecosystem that encourages entrepreneurship. With Bpifrance, companies benefit from a strong and effective local contact able to meet all their financial, innovation and investment needs.
Further information: www.bpifrance.fr – Follow us on Twitter: @Bpifrance - @BpifrancePresse
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About La Française Group
For forty years, La Française has been developing core competencies in third party asset management.
La Française has a multi-expertise business model organized around four core activities: securities, real estate, investment solutions and direct financing. The group caters to institutional and private clients throughout the world.
With 639 professionals and offices in Paris, Frankfurt, Geneva, Hamburg, Stamford (CT, USA), Hong Kong, London, Luxembourg, Madrid, Milan, Seoul and Singapore, La Française manages €65.8bn in assets (as at 01/01/2019).
La Française is a forward-looking responsible investor and as such, incorporates tomorrow’s challenges into today’s investment strategy.
La Française is owned by Credit Mutuel Nord Europe (“CMNE”), a banking and insurance group present in Northern France and Belgium.