Bpifrance: "It's a good time to invest in Web3".
For Benjamin Paternot, who manages the public investment bank's funds business, the industry linked to cryptos and blockchain has become unavoidable.
👉 The news. Bpifrance has just put several million euros into Ledger and Cathay Innovation's Web3 fund.
👉 The background. Benjamin Paternot, who heads up the public investment bank's funds, plans to continue investing in the sector.
👉 Why it matters. Bpifrance and its fund activity have a considerable financial strike force (€13 billion in assets under management).
The Big Whale: We tend to see the public sphere as a rather sceptical universe on cryptos and the Web3, even hostile. Is this the case at Bpifrance?
Benjamin Paternot: Absolutely not. We've been supporting the ecosystem for years. We started very early on with loan financing, and in recent years we've stepped up our equity investment, either directly or via private equity funds. In total, between loans and investments, we have already supported more than 150 start-ups in the crypto and Web3 universe, including our two French unicorns Ledger and Sorare right from their launch.