Axa Venture Partners to Raise €1.5 Billion Fund for Tech (1)

Axa Venture Partners announced a new €1.5 billion ($1.6 billion) late-stage fund to invest in European and North American tech startups, targeting companies that expect to go public within three to four years.

French insurance company Axa SA, AVP’s biggest source of capital, plans to make a €750 million anchor investment, the fund said in a statement Wednesday. The first closing is expected in the first quarter of 2024, with a final close expected the next year, it said.

The fund comes as the market for initial public offerings in both the US and Europe remains challenging as investors ...