Small Cap Funds Investments
Bpifrance invests in funds that provide equity and quasi-equity to small and medium-sized companies.
Investment theme
Bpifrance supports various investment strategies to provide a range of solutions meeting the diverse financing needs of French companies. These strategies include:
- Expansion capital and buyout funds: supporting companies’ growth and expansion
- Turnaround/special situations funds: helping companies in temporary difficulty
- Mezzanine/flex equity funds: providing intermediate financing between equity and debt
- Impact funds: investing in projects with a strong social or environmental focus, by following impact investment principles
Each strategy is tailored to the expertise and the track records of investment teams. Target funds may take a generalist or sector-specific angle.
200+
funds in portfolio
65+
GP relationships
≈ €590 M
committed in 2024
€5.4 Bn
commitments (active portfolio)
as of June 2025
Our team
Rémi Berteloot
Managing Director of Small Cap Funds Investments
Cédric Cabarrus
Senior Investment Director
Géraldine Fiani
Senior Investment Director
Nils Laurent
Investment Director
Justine Palluat de Besset
Investment Director
Lucas Bailliart
Senior Associate
Esther Cahen
Analyst
Pierre Bardy
Analyst
Martin Piechaczyk
Analyst
Alicia Boisseau
Analyst