Government of France

The Government of France acts as a strategic investor in the national economy, primarily through its public investment bank, Bpifrance. Bpifrance functions as a sovereign wealth fund and development bank, supporting companies at all stages of their development with loans, guarantees, and equity investments. It invests directly in startups, SMEs, and large enterprises, and also acts as a limited partner (LP) in private equity and venture capital funds. Many of its investments are directed by national strategic plans, such as the €54 billion "France 2030" plan, which aims to develop future champions in key sectors like green energy, technology, healthcare, and transport. The investments in companies like Imcheck Therapeutics, Verkor, and PASQAL were made through programs operated by Bpifrance on behalf of the French state.