BNP Paribas Solar Impulse Venture Fund

Yann Lagalaye serves as Managing Partner, leading deal evaluation and execution. He previously worked in BNP Paribas' Principal Investments unit. Bertrand Piccard is the strategic partner and Foundation chairman, actively involved in origination through the Solar Impulse Foundation network, but the day-to-day investment committee authority rests with Lagalaye's team, per the firm's 2022 launch communications.

The fund draws from the Solar Impulse Foundation's portfolio of over 1,500 certified efficient solutions. Companies apply to the Foundation for the label, undergo third-party technical and economic review, and — if approved — become visible to the fund's investment team. This creates a pipeline pre-screened for both climate impact and commercial readiness, distinct from typical bank-originated deal networks.

Neither. BNP Paribas Solar Impulse Venture Fund is an external manager, structured as a joint venture between the bank's asset management arm and the Solar Impulse Foundation. It raises commitments from BNP Paribas and other institutional limited partners, deploying into companies that have passed the Foundation's labeling process.

The vehicle makes direct venture and growth-equity investments into operating companies. As of the fund's public profile, there is no mandate to invest as a limited partner in other venture or private-equity funds.

The fund targets early-stage and growth-equity rounds, with an emphasis on companies that have reached at least Series A. The Foundation's labeling process favors solutions with proven prototypes or initial commercial traction, so pre-seed and concept-stage bets are outside the fund's typical scope, per its 2022 mandate description.

The Foundation is a non-profit, independent entity based in Lausanne, Switzerland. It certifies solutions without taking equity or fees. The venture fund operates under BNP Paribas' asset management umbrella with a separate partnership structure, and portfolio eligibility requires the label — but Foundation staff are insulated from fund economics and carry.

This fund does not manage a single family's wealth. It raises institutional capital, anchored by BNP Paribas' own balance sheet commitment, alongside external limited partners. Bertrand Piccard's personal wealth and the Foundation's endowment are not the source of investable capital.