Bpifrance


Bpifrance also known as the Banque publique d'investissement is a French public sector investment bank. It is a joint venture of two state owned enterprises: the Caisse des dépôts et consignations and EPIC Bpifrance Group.
The former subsidiary of EPIC OSEO, OSEO S.A., became a subsidiary of Bpifrance known as Bpifrance Financement.
Bpifrance has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.

History

Bpifrance was established in 2012 as part of a broader effort by the French government to consolidate public financial support for businesses. It brought together three major state-backed bodies: OSEO, which focused on loans and guarantees for small and medium-sized enterprises; the Fonds Stratégique d’Investissement, created in 2008 to support long-term strategic equity holdings; and CDC Entreprises, the venture capital subsidiary of the Caisse des Dépôts et Consignations.
The new institution became operational in 2013, offering a unified structure for loans, guarantees, equity investments, and export financing. In 2015, Bpifrance expanded its mandate to include innovation funding and support for international business development. In 2017, it launched “Bpifrance Export” to streamline export insurance and trade promotion services, previously managed by Coface.
During the COVID-19 pandemic in 2020, Bpifrance played a central role in the French government’s economic response by providing state-guaranteed loans to businesses affected by the crisis. In the following years, the institution increased its involvement in strategic sectors such as renewable energy, biotechnology, and industrial decarbonization.
In 2024, Bpifrance provided export credit support for a £5 billion loan arranged by a consortium of 13 commercial banks to finance the construction of the Sizewell C nuclear power station in the United Kingdom.

Subsidiaries and minority interests

  • Bpifrance Financement S.A.
  • *Bpifrance Régions
  • Bpifrance Participations
  • *Bpifrance Investissement
  • *Orange S.A.
  • *FT1CI
  • **STMicroelectronics Holding
  • ***STMicroelectronics
  • *Areva
  • Vallourec
  • Stellantis
  • Constellium