June 13, 2024
Investment

French Investment Fund ArtNova Makes Its First International Power Move


Paris’s annual Art Market Day event will now become part of the Art Business Conference’s international program.

The Art Business Conference 2014 The Queen Elizabeth II Conference Centre
L-R: Leonora Gummer (ACS), Simon Stokes (Blake Morgan), Ivan Macquisten (Antiques Trade Gazette)

The French cultural investment fund ArtNova has acquired Art Market Minds, the company behind the Art Business Conference, a series of annual one-day conferences that take place across the globe. This year, the organization will celebrate one decade since its first event in London in 2014.

The conference’s founder Louise Hamlin will keep a minority stake in the company and continue to oversee the events program. Last year, the conference’s scope expanded to include inaugural events in Cape Town, at Art Dubai, and at TEFAF Maastricht, where the next conference is planned for March 8.

The acquisition will also see the Art Business Conference merge with a different conference in Paris called the Art Market Day. This event is organized by Beaux Arts & Cie, a company owned by ArtNova that oversees several businesses, including the publications Beaux Arts Magazine and Le Quotidien de l’Art. It will now become the Art Business Conference Paris and is expected to take place in November.

“The return back to events after the lockdowns and changes in how and where we work has meant the in-person experience of meeting peers at the conferences has boomed,” said Hamlin. “As a single entrepreneur, I realized I needed help to expand the growing global portfolio of conferences and finding the right partner became a priority.”

“The acquisition means I have the mentorship of ArtNova’s executive team, including Frédéric Jousset and Jean-Baptiste Costa de Beauregard,” she added, “plus the ability to grow the conference team with new hires.” She also revealed that the company is hoping to continue growing in Asia in the near future.

Launched in 2020 by the French tech entrepreneur turned arts patron Frédéric Jousset, ArtNova is a €100 million ($119 million) impact investment fund created specifically to support the cultural industries. One branch of the fund, ArtNova Capital, oversees venture and private equity investments, while a second branch, ArtNova Patrimoine, donates money to important cultural heritage projects.

Jousset began sponsoring the arts in 2005, when he donated $1.09 million (€1 million) to the Louvre. He is now known for encouraging more experimental, imaginative approaches to boosting engagement with the arts through his foundation Art Explora, also supported by the fund.

“Louise has created the ultimate reference for art market conferences. I look forward to working with her to develop and expand this network internationally,” said Jean-Baptiste Costa de Beauregard, the investment director at ArtNova and deputy CEO of Beaux Arts & Cie.

 

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