Gov. Fund · WATER INVESTOR

Bpifrance

Bpifrance is a water-focused gov. fund that has backed 8 water companies since 2012. (don't) Waste Water rates its water commitment Committed.

Committed
Water Commitment
Type
Gov. Fund
AUM
$64.8B
Founded
2012
HQ
8 Bd Haussmann, 75009 Paris, France
Stage
Pre-Seed - Series B
Median round
$3.2M
Portfolio
8 cos

Water Commitment Score

Tier
Committed
8 water companies · last deal 2026 · leads ~11% of rounds · High confidence
How this is scored ↗
as of Jun 2026 · no pay-to-rank

Compiled from official filings, third-party records, and direct intelligence from investors and founders, in Leviathan · recomputed monthly · as of Jun 2026.

How they invest

Pre-Seed2
Seed4
Series A1
Series B1
Median round$3.2Mrange $1M - $27M · 8 disclosed

Portfolio · 8 water companies

Anodine
Anodine is a French company developing rechargeable electrodes for electrolyzers, targeting sus
$2.9MSeed · 2026
ilion Water Technologies
Cleantech startup developing membrane-based electro-pump technology for energy-efficient atmosp
$4.5MPre-Seed · 2026
Kumulus Water
Kumulus Water manufactures the Kumulus-1 atmospheric water generator, a solar-powered, off-grid
$3.5MLED Seed · 2025
Luniwave
Luniwave develops LuniShower technology and GreenMiles, an eco-positive solution for hotels tha
$1.1MSeed · 2024
Etteliot
Etteliot manufactures autonomous urine treatment systems (Etteliot S) for RVs, tiny houses, and
$1.5MSeed · 2024
Adionics
Adionics is a company that develops desalination technology using an ion-absorbing liquid to re
$27MSeries B · 2023
Elicit Plant
Elicit Plant produces foliar biostimulants based on proprietary phytosterol molecules that acti
$18.3MSeries A · 2022
Sources
Sources is a French engineering company that provides consulting and designs wastewater treatme
-2019

See the full portfolio in Leviathan →

Invests alongside

Credit Agricole2x Banque Populaire2x Flat6Labs2x Sofinnova Partners1x Aquiti1x ECBF1x SATT Linksium1xSowefund1x Grenoble Angels1x

Highlighted = profiled on (don't) Waste Water.