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Bpifrance

Sovereign wealth fund · Founded 2012 · Active in 2026

Bpifrance is a sovereign wealth fund based in France, founded in 2012. The page below shows 48 Power Law outcomes from Bpifrance's portfolio — 23 unicorns ($1B+ valuation) and 14 additional thoroughbreds (companies that crossed $100M+ in revenue without yet reaching $1B+ valuation).

Outcomes are concentrated in Fintech · Transportation · Other B2B Software; top portfolio geographies are France · USA · Finland. Bpifrance ranks #188 in Global in the 2026 Dealroom Power Law Investor Ranking by cross-stage outcomes.

48 Power Law outcomes Power Law Ranking #188 · Global · 48 Power Law outcomes · Active 2026
Unicorns ↑ 77% 5y
23
Decacorns → 5y
2
Thoroughbreds ↑ 117% 5y
27
01 · Exits

Sequoia’s biggest exits.

Sequoia portfolio companies worth $1B+ that have IPO’d or been acquired. Each shows its valuation at exit and, in grey, its current value if still public.

IPO · 1999
Entered SeedNow $5.2T
IPO · 2004
Entered Series ANow $4.6T
IPO · 1980
Now $4.5T
IPO · 2014
Entered Series B+Now $306B
$214B IPO · 2021
Entered Series B+Now $20.1B
IPO · 2012
Entered Series ANow $207B
$82.0B IPO · 2019
Now $153B
IPO · 2012
Entered Series B+Now $103B
$95.0B IPO · 2020
Entered SeedNow $69.1B
$93.9B IPO · 2020
Entered Series B+Now $58.4B
$24.0B IPO · 2018
Entered Series B+Now $73.3B
$39.0B IPO · 2020
Entered Series ANow $67.6B
$32.0B IPO · 2021
Entered Series B+Now $67.5B
$41.5B IPO · 2021
Entered SeedNow $64.4B
$60.0B IPO · 2021
Entered Series B+Now $28.0B
$55.5B IPO · 2026
Entered Series B+Now $55.5B
$52.8B IPO · 2018
Entered Series ANow $49.6B
IPO · 2013
Now $45.0B
IPO · 2015
Entered Series B+Now $39.4B
IPO · 2002
Entered SeedNow $39.1B
$32.0B acquisition · 2025
Entered Seed
$12.0B IPO · 2021
Entered Series B+Now $29.5B
IPO · 2014
Entered Series B+Now $28.6B
IPO · 2015
Entered Series ANow $28.2B
03 · Portfolio analysis

The 48 Bpifrance Power Law outcomes ($100M+ revenue or $1B+ valuation).

Snapshot of where the outcomes are concentrated by country, sector, and stage entered.

By countryCount
  1. France38
  2. USA8
  3. Finland1
  4. Switzerland1
By sectorCount
  1. Fintech9
  2. Transportation5
  3. Other B2B Software5
  4. AI4
  5. Other4
  6. Marketing4
  7. Biotech & Life Sciences4
  8. Energy3
  9. Space2
  10. Edtech2
  11. eCommerce & Marketplaces2
  12. Cybersecurity1
By stage enteredCount
  1. Series B+27
  2. Series A7
  3. Seed3
Estimated holdings

Bpifrance’s biggest current holdings.

An estimate of Bpifrance’s largest live positions — disclosed shareholding × Dealroom’s latest valuation — across 6 companies where Bpifrance is a named shareholder, worth about $1.6B in estimated equity value.

#CompanyEst. stakeValuationEst. value
  1. 1 Mistral AIEnterprise Software · Decacorn 4.8% $13.8B $662M
  2. 2 DoctolibHealth · Unicorn 10.5% $3.9B $410M
  3. 3 ContentSquareEnterprise Software · Unicorn 4% $5.6B $224M
  4. 4 Vestiaire CollectiveFashion · Unicorn 10.5% $1.7B $178M
  5. 5 OwkinHealth · Unicorn 9.5% $1.0B $95M
  6. 6 Loft OrbitalSpace · Unicorn 6% $1.1B $66M

Estimated value = Bpifrance’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. Bpifrance also appears inside investor groups in ICEYE, where a standalone stake isn’t disclosed. See the underlying cap tables on Dealroom →

Bpifrance’s biggest exits.

Bpifrance portfolio companies worth $1B+ that have IPO’d or been acquired. Each shows its valuation at exit and, in grey, its current value if still public.

$1.5B IPO · 2018
Entered Series B+Now $11.1B
buyout · 2010
Now $2.4B
$760M IPO · 2016
Entered SeedNow $2.4B
IPO · 2012
Now $2.1B
$1.2B IPO · 2022
Entered Series B+Now $91M
$1.2B acquisition · 2019
Entered Series B+
$1.1B IPO · 2022
Now $110M
$24M IPO · 2021
Entered Series ANow $1.0B
04 · Portfolio market map

Bpifrance's 48 Power Law outcomes.

Stage entered
Outcome tier
Region
Group by
48 of 48 Power Law outcomes
05 · Power Law comparison

How does Bpifrance stack up?

Bpifrance in orange, your selection in blue and other colours. Pick from the global roster of 609 peer investors — scope by startup location or hit "Find similar shapes" to auto-pick the three closest. The funnel matrix mirrors the spider chart on the ranking page; the line chart shows each firm's share of unicorns minted in the selected startup location — peaks reveal vintage years.

Compare against

Share of new unicorns per year

% of global unicorns minted that year, year by year · hover the chart to see which unicorns
Performance window All-time → 2026

Stage focus

Companies by selected outcome stage

Sector focus

Companies per investor across the 10 highest-volume sectors

Beyond Unicorns — how the portfolio compounds

% of each investor's unicorn portfolio that later crossed $10B, $25B and $50B. Pick a sort tier and entry stage.
Sort by
Entry stage
Source: Dealroom Power Law dataset. Investors shown are the 2026 Power Law top 35 by combined entry-to-outcome score, drawn from the overview and locations_data sheets. Funnel-matrix axes rescale per-axis using the maximum among the currently selected investors, so the polygons always fill the chart for shape comparison.
06 · Portfolio founders

Where Sequoia's portfolio founders come from — and where they studied.

100 founders across the 48 Power Law outcomes — split by country of origin, university attended, and the company they worked at before founding. HEC Paris and Meta are the deepest single pipelines.

LocationCount
France40
Italy17
United States6
Colombia4
Canada3
Portugal1
Israel1
Netherlands1
View on app →
UniversityCount
HEC Paris7
École Polytechnique - IP Paris5
Mines Paris - PSL University3
University of Turin3
Stanford University Graduate School of Business3
Queen's University2
INSEAD Business School2
Paris-Saclay University2
Paris-Est Créteil University2
NEOMA Business School2
+54 more →
Origin companyCount
Meta6
Alphabet | Google4
Advanced Accelerator Applications3
Spire Global3
AnyCommerce3
Tesla2
UUNET2
Google DeepMind2
Vantage Data Centers1
Balyo1
+19 more →
Origin = country a founder is born in or grew up in (founders may have multiple origins; counts include all entries). University = highest-listed degree. Origin company = a previous employer where the founder was tagged before starting their current company.

Market sentiment

What the market is saying about Bpifrance

An AI-synthesized read of the highest-engagement posts about Bpifrance on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

In the news

Latest news about Bpifrance

Recent press, funding announcements, and portfolio moves mentioning Bpifrance — pulled live from Dealroom's news feed.

See all news

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