FSN PME Fund

FSN PME Fund is a Paris-based venture capital vehicle managed by Bpifrance that provides equity financing to digital startups and small and medium-sized enterprises operating across France. Operating as a core component of the French government's broader Programme d'Investissements d'Avenir, the specialized fund manages approximately €400 million in assets to support early-stage and growth-stage technology companies. The investment vehicle actively participates in competitive funding rounds alongside prominent European venture firms, building a diverse portfolio that includes notable technology companies such as Shift Technology, OpenClassrooms, and Klaxoon. By targeting initial investments typically ranging from €1 million to €10 million per ticket, the fund aims to accelerate the commercial development and international expansion of promising domestic digital innovators. The investment fund was officially established in 2011 under the direct management of the French state-backed public investment bank Bpifrance.