Nicolas Dufourcq leads Bpifrance, the French development and exim bank for midcaps, the French export credit agency and the country sovereign fund altogether. The bank has €36bn equity assets under management and ca. €40bn of outstanding loans. Bpifrance finances every year ca. €17.5bn of loans and €1.3bn of innovation soft loans. €3.5bn of equity investments in startups, small, mid and large caps have been invested in 2019, of which €1.1bn in private funds through its funds of funds division. Amongst a 1000 company portfolio, Bpifrance holds 10% of Orange, 12% of Peugeot, c.14% of STMicroelectronics and c.20% of Eutelsat. Bpifrance has also been the French Export Credit Agency since 2017. In 2019, €11.7bn were granted in insurance credit. Previously, Nicolas Dufourcq was deputy CEO of Capgemini in charge of finance, delivery, lean management and IT. He contributed to the turnaround between 2003 and 2012. Earlier Nicolas Dufourcq created Wanadoo, the internet access leader, a subsidiary of France Telecom, and listed it for €20bn. He was then deputy CEO of France Telecom. Nicolas Dufourcq is Chairman (non-executive) of the STMicroelectronics’ Supervisory board, and a board member of Orange.