Bpifrance SPI (Sociétés de Projets Industriels)

Investor profile | Builders Republic

Part of Bpifrance (Capital Innovation)

About

Bpifrance SPI (Sociétés de Projets Industriels) is a public fund of €800M, managed by Bpifrance on behalf of the State (PIA) and the European Investment Bank. Its mission is very precise: to finance the industrialization phase of innovative French technologies, when the process is validated but building the factory or scaling up industrially requires capital that classic VCs do not know how or do not want to invest. A minority shareholder only, with tickets ranging from €10M to €140M, SPI targets reindustrialization projects with a strong impact on employment and French sovereignty (energy, hydrogen, batteries, advanced materials, decarbonization). Result after 8 years: 17+ factories created, 3,200+ jobs. Portfolio: McPhy, Forsee Power, Lhyfe, Verkor. For a founder, SPI is relevant at a very specific stage (post-technological validation, pre-industrial scale), not at early-stage.

Key facts

Type
Public Fund / Sovereign Wealth Fund
Stages
Series A,Series B
Sectors
Industry & Manufacturing,Deeptech,Energy,B2B
Headquarters
France
Offices
Paris
Geographic focus
France
Founded
2011

Track record

  • Portfolio companies: 13
  • Total investments: 16

Notable investments

Expliseat, Vulkam, Umiami, Forsee Power, Metabolic Explorer

Funds by stage

Other funds investing at the same stages, list by list.

Funds by sector

The funds investing in each sector, based on their rounds over the last 36 months.