Private Equity

Bpifrance is the French Sovereign Fund. We invest in start ups, SMEs and Mid-caps through direct investment and a fund of fund activity.

In 2018, this activity represented 2 billion euros, our portfolio of new investments is made of 1000 direct investments and 400 partnering funds. Our fund of fund activity is the European leader.

Fund of funds

International innovation capital funds

Bpifrance invests into leading foreign innovation funds, especially pan-European and North American funds, with the objective of internationalizing the French...

Small cap

Bpifrance invests into small-cap investment funds which support small and medium-sized companies.

Local & Regional

Bpifrance invests into regional funds and contributes to the stimulation of the local economy.

Cross-border funds

Bpifrance invests into private equity funds whose strategy targets French companies together with companies located in one or more foreign...


Bpifrance makes equity investments in private equity funds intended for the African continent, which invest in African start-ups, SMEs, and...

Digital funds of funds

Bpifrance invests in digital VC funds in Europe, Asia and North America to generate open innovation benefits and financial performances.


Bpifrance invests into innovation funds (seed, VC – early, mid and late stage – and growth) covering all sectors (digital,...