NewAlpha Asset Management (“NewAlpha”), an expert in investments targeting the entrepreneurial financial industry worldwide, launched the first French venture capital fund* dedicated to FinTech companies in November 2015.
NewAlpha is proud to announce the launch of Swave, the first physical incubator, entirely dedicated to FinTech firms and managed by Paris&Co with the support of the French government.
This new platform, fostering “innovation”, will offer 2,500 m² of office space in the Grande Arche, in the heart of La Défense. The objective is not only to create an innovation-friendly business environment but to attract European FinTech firms to La Défense which is Paris’ main financial district.
Swave, founded by NewAlpha, Societe Generale, Crédit Municipal de Paris and Exton Consulting, will work closely with the research and higher education bodies (Institut Louis Bachelier) as well as territorial authorities.
"An actual physical platform for the incubation of Fintech start-ups fits perfectly in the array of services offered by NewAlpha. Joining forces with Paris&Co and the other founding members seemed ideal, because the project is part of a real public-private commitment to promote the FinTech sector internationally.” says Lior Derhy, Director of Private Equity at NewAlpha AM.
"The historical positioning of NewAlpha as an emerging manager incubator and its capacity to connect with institutional investors convinced us in our quest for the right partner for Swave" adds Edouard Plus, Head of Swave.
NewAlpha has met with more than 150 start-ups over the last twelve months. Its FinTech analysis and selection expertise, as well as potential financing from its Venture Capital NewAlpha FinTech* fund are valuable strengths.
More than thirty start-ups, from four different sectors of innovation, will constitute the first “class” to be admitted to Swave.
Applications are to be submitted by 17 November 2017. Swave will open its doors on 8 December 2017.