France has found another €13bn for its tech sector. And it barely cost the state a thing.
The money comes through Tibi, a programme that nudges French insurers and pension funds to back venture and growth funds instead of safer, lower-yield assets. The finance ministry announced this third phase at VivaTech on Friday. The goal is to reach €15bn by 2030.
How Tibi actually works
The clever part is that Tibi is not a state fund. It creates no new public money pot. Instead, Paris persuades big institutional investors to commit their own capital, then labels the funds that qualify. The Treasury picks which funds get the Tibi stamp.
So far it has worked. The first phase, from 2020 to 2022, targeted €6bn and drew €6.4bn. A government audit found the scheme nearly tripled annual investment in French tech, at little cost to the budget. That cash helped scale-ups such as Doctolib, Exotec and BlaBlaCar.
