“This significant milestone for the firm, originally founded in 2016, transitions it to an independent private investment company,” said AVP.

“AVP will continue to work closely with AXA and build on the strong relationships developed over the past ten years.

“The company’s new brand identity was selected to mark continuity and emphasize AVP’s strong transatlantic presence with deep roots in both Europe and North America. It underscores its identity and capacity to serve ambitious entrepreneurs targeting these two key markets.”

AVP is the only transatlantic investment platform selected by EIF for technology investments.

AVP said the EIF investment is part of the European Tech Champions Initiative (ETCI) that supports funds above €1 billion 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.”

François Robinet, Managing Partner, AVP, said: “Today marks an impressive milestone for AVP and our team, and ushers in an exciting new chapter for our firm. We are deeply thankful to AXA for the incredible continuous support in many dimensions in the last ten years.

“AXA will continue to be a key partner and we are very honoured that George Stansfield, Deputy-CEO of AXA, has accepted to remain Chairman of our Board. We look forward to ensuring continuity for our investors and the entrepreneurs we back, fostering an entrepreneurial spirit among our team, and putting performance and excellence at the heart of our operations.

“We are also very pleased and honoured to have 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”.

AVP said the EIF backing is a key catalyst for Growth Fund I, which has already closed three transactions over the past year including Agicap and Odoo.

It said the Growth Fund addresses a clear market gap in Europe for a European tech platform investing in growth stage tech investments, offering to the European entrepreneurs a differentiated alternative to premier US Growth funds and Sovereign Wealth Funds.

EIF Chief Executive Marjut Falkstedt said: “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.”

AXA Deputy CEO George Stansfield said: “We are proud to have built such a strong and successful platform over 10 years of close collaboration, to the point where AVP is now ready to operate independently.

“It’s a major milestone for AVP and I am sure that the AVP team will continue the strong journey they have started within AXA. We look forward to maintaining our excellent and unique relationship and continuing to drive attractive returns for AXA.

“We are also delighted that EIF joins us as an anchor investor in AVP’s new Growth Fund. Joining forces with such a prestigious investor will allow AVP to launch a unique fund in Europe, dedicated to the financing of large growth stage tech companies offering an opportunity for a new European platform to tap an attractive market, which has historically been led by US-based funds”.

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.