BNP Paribas Asset Management (BNPP AM) announced that it has raised €172 million (USD$179 million) at the final close of its BNP Paribas Solar Impulse Venture Fund (BNPP SIVF), surpassing the initial target size for the fund focused on investing in innovative cleantech startups with positive environmental impact and supporting the acceleration of ecological transition.

Founded in 2021 through an exclusive partnership between Bertrand Picard’s Solar Impulse Foundation, the SFDR Article 9 fund aims around 15 investments in European and North American high potential growth startups, targeting sectors including the energy transition, sustainable agriculture and food, the circular economy, water and ocean management, smart cities, sustainable mobility, and industrial innovation.

BNP Paribas provided an initial €75 million commitment at the launch of the fund. The strategy was opened to third party capital, and among the limited partners are companies like ADP Group, institutional investors such as AGPM, BNP Paribas Cardif and Sogecap, along with individuals and family offices.

Yann Lagalaye, Managing Partner of the BNP Paribas Solar Impulse Venture Fund, said:

“We are thrilled to close on the BNPP Solar Impulse Venture Fund above the initial target size, particularly in such a challenging funding environment, and would like to thank our investors for their trust and support. While fundraising, we have already invested in 5 flagship promising startups.”

The fund’s investments to date include Uk-based biodiversity measurement and monitoring solutions provider NatureMetrics, Phenix, a French scale-up active in the circular economy, dedicated to reducing food and non-food waste, Axioma, a French bio-solutions start-up which seeks to accelerate the ecological transition of agriculture, mitigating hydric stress for plants,  Hello Watt, which aims to make energy renovation simpler, more efficient and more accessible for homeowners, and Chemix, a US tech company developing next-generation battery design. New investments are expected to be announced soon to complement this initial portfolio, the firm said.

​Bertrand Piccard, Founder and Chairman of the Solar Impulse Foundation, said:

“At the Solar Impulse Foundation, our mission is to identify and support solutions that can protect the environment in a profitable way. The BNP Paribas Solar Impulse Venture Fund embodies this goal, combining environmental leadership with tangible impact and monetary returns. Its success proves that investors are ready to back transformative activities that pave the way for a sustainable future. Private capital has a crucial role to play in accelerating the ecological transition, and we look forward to seeing even more impactful and innovative solutions bloom thanks to this initiative.”