New | AXA setting up offices in Hong Kong, Shanghai and Singapore to speed investment in Asia
French insurer AXA will accelerate investment in Asia
French insurer AXA said on Friday it would accelerate its investments in Asia by setting up three new structures dedicated to investment and innovation in Hong Kong, Shanghai and Singapore by the end of this year.
It said a new office of AXA Strategic Ventures (AXA SV) will be established in Hong Kong to be in the best position to seize the numerous investment opportunities in the region and to accompany European and American start-ups on the Asian market.
“AXA SV now has a genuinely global reach. The establishment of this new office in Hong Kong will not only allow us to take advantage of the possibilities offered by the region, but also to accompany the startups we support in their international expansion in one of the most dynamic markets globally,” said Francois Robinet, managing director of AXA Strategic Ventures.
AXA SV is already present in San Francisco, New York, London, Paris, Zurich and Berlin.
The group had announced in February the creation of ¤200 million venture capital fund, AXA SV, dedicated to investing AXA group money in budding strategic innovations in the insurance, asset management, financial technology and healthcare service industries,” according to the company statement.
In Shanghai, the group will set up an AXA Lab Asia on the model of the structure present in the Silicon Valley in the United States since the beginning of last year.
“We wish to foster innovation and further the spirit of entrepreneurship across the group, by forming partnerships with the most forward-thinking companies,” said Frank Desvignes, director of AXA Lab Asia, “The AXA Lab Asia will also detect emerging trends that can be leveraged for the benefit of our clients, as well as indentify new talents.”
The group will also develop a Data Innovation Lab in Singapore, on the model of the one already created in France.
It will act as a business-focused centre of expertise on data analytics to foster research and development for its offers and services.
