Retail Funds
Enabling individual investors to invest in the real economy through
the private equity asset class and diversify their saving solutions
Main missions
Design, structuring and distribution of funds dedicated to individual investors
Through its range of 'Bpifrance Entreprises' funds, Bpifrance has been making private equity accessible to individuals. These retail funds allow individuals to invest their savings in the real economy, supporting French and European SMEs and mid-cap companies.
Over the past 4 years, the entry ticket has been reduced tenfold, from €5,000 to €500.
In October 2025, Bpifrance launched Bpifrance Défense, the first Bpifrance semi open ended fund, dedicated to sovereignty and defence, with a €450 M target size.
Offering multi-channel and open distribution
Investors can subscribe directly via the Bpifrance Entreprises platform or indirectly through insurers, wealth managers and collective retirement saving solutions.
Supporting the democratisation of private equity
Bpifrance is supporting the retailisation of private equity and developing a series of educational initiatives to promote understanding and adoption of private equity. For instance, the Retail team has set up a private equity acculturation platform: Epargner Autrement [Saving Differently].
Key figures (as of 2025)
€400 M
raised from...
...21 000
individual investors
2 000 +
underlying companies, of which 90% located in Europe and 75% in France
*except for the Bpifrance Défense Fund, currently raising capital
Our team
Gorka Gonzalez
Managing Director of Retail Funds
Anne Vinot
Retail project Manager
Gabriel Costes
Retail Funds Development