Generalist · VC Firm

AVP (Atlantic Vantage Point)

AVP (Atlantic Vantage Point, ex-AXA Venture Partners) backs quantum as an active deep tech conviction: it co-led Alice & Bob's EUR 100M Series B with FFC and Bpifrance to reach a useful quantum computer by 2030, and seeded post-quantum cryptography vendor CryptoNext Security, both led by Managing Partner François Robinet.

Active Paris, FranceFounded 2016

Investment thesis

Independent transatlantic investment platform (formerly AXA Venture Partners, founded 2016): completed its management buyout from AXA in April 2025 and rebranded as Atlantic Vantage Point, with AXA remaining an anchor LP.

Manages over EUR 2.5B across four strategies (Venture, Early Growth, Growth, Fund of Funds) out of Paris, London and New York, with a EUR 1.5B Growth Fund I anchored by AXA and the EIF.

Quantum entered the thesis through deep tech conviction: co-led Alice & Bob's EUR 100M Series B (January 2025) alongside Future French Champions and Bpifrance, and seeded post-quantum cryptography vendor CryptoNext Security in 2023.

Managing Partner François Robinet is lead partner on both quantum positions and frames quantum as leaving pure R&D for an industrial phase with real-life use cases.

Anti-thesis

The patterns that trigger a fast no with this fund.

  1. Quantum remains a two-position pocket (Alice & Bob, CryptoNext) inside a generalist software/fintech/health portfolio; there is no dedicated quantum fund or stated quantum allocation
  2. Both quantum deals sit in the Venture strategy with the smallest checks (EUR 1-10M entry range); the EUR 1.5B Growth Fund I targets revenue-generating scale-ups (over EUR 40M revenue), a bar no quantum hardware company meets today
  3. Post-MBO (April 2025), AVP answers to third-party LPs including the EIF on fund economics: a long-dated quantum hardware bet must clear conventional return hurdles, not strategic-insurer logic
  4. The AXA strategic angle is diluted: AXA is now one anchor LP among others, so 'insurance use case' arguments carry less weight than before the spin-out
  5. François Robinet is the single visible quantum champion; key-person risk on the thesis if his attention shifts to the Growth platform buildout

Notable quantum portfolio

Full portfolio
Alice&BobCryptoNext Security

Frequent co-investors