A new opportunity for individual investors

Bpifrance Entreprises 3 is a secondary funds managed by Bpifrance Investissement, available online on Bpifrance platform and within the main French savings envelopes through an omnichannel and open distribution model : life insurance and French Pension plans. Already with inflows of nearly €250 million through the first three funds, the bank for entrepreneurs is continuing to develop its investment offer for individuals with Bpifrance Entreprises 3. For this new fund, the ambition is clear: to give non-professional investors access to a largely pre-established portfolio of around 1,200 unlisted companies (start-ups, SMEs and mid-caps) in a wide range of sectors, an investment opportunity traditionally intended for professional investors. A new version of the online subscription platform: easier to use with a secure and optimized subscription process on both mobile and desktop, and gathering all “Retail” funds (open and closed to market) on the same website.

Democratizing investment in private companies

« Through our Bpifrance Entreprises range, now accessible from €500 with Bpifrance Enterprises 3, we are continuing our action to enable as many French residents as possible to invest capital in unlisted companies, those in their territories. As pioneers in this process of democratizing the asset class, which is considered by many to be riskier than other traditional asset management products, we are particularly proud to launch a 4th fund and to continue a dialogue with the French people through our mission as a bank to finance the real economy, » concludes Nicolas Dufourcq, Chief Executive Officer of Bpifrance at a press conference.

Composition of the portfolio

Bpifrance Entreprises 3’s portfolio is based on specific criteria outlined in the Fund’s by laws.

At fund launch, the portfolio comprises 76 funds, geographically split as follows: 64% from French funds, 19% European, and the remaining 17% from other countries worldwide. In terms of vintages, 26% from 2019, 59% from 2018 and 15% from 2017. If total subscription reaches €120 million, a primary portfolio (of max 20% of total fund size) of 4 to 5 investments in primary funds and/or co-investments would be deployed. At the end of the investment period, if the primary portfolio is fully deployed, the Fund’s asset mix will be split between 75% of private equity and 25% of venture capital. By private equity, we mean support for mature French or European SMEs or mid-caps, generally in a new phase of their expansion. Venture capital means financing start-ups or scale-ups with strong growth potential and developing innovative products or services.

More generally, Bpifrance is actively working to animate the ecosystem through many initiatives with a real impact on the asset class awareness among individuals and a ripple effect with some thirty asset management companies: consumer surveys, sharing of know-how during events, launch of the education platform built with France Invest epargner-autrement.fr