DJ Audacia SAS: Expansion Ventures to begin operation with a EUR100 million 1st closing, anchored by a EUR60 million investment from EIF
Audacia SAS
Audacia SAS: Expansion Ventures to begin operation with a EUR100 million 1st closing, anchored by a EUR60 million
investment from EIF
23-Jan-2024 / 07:00 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Expansion Ventures to begin operation with a EUR100 million 1st closing, anchored
by a EUR60 million investment from EIF
Brussels, 23/01/2024 - Expansion Ventures, a pan European private venture capital company dedicated to Europe's rising
New Space and New Air Mobility sectors announces the launch of its first closing operations for its fund Expansion,
with an initial tranche of EUR100 million.
Based in Paris and Stockholm, Expansion has been cofounded by experienced entrepreneurs and aerospace experts Charles
Beigbeder, Ted Elvhage, Sandra Budimir and Ulf Palmnäs and by French investment management company Audacia which has
incubated this initiative through its deeptech program.
The fund has garnered support from prominent investors, including the European Investment Fund (EIF) which has
announced a significant investment commitment of EUR60 million into Expansion, leveraging the CASSINI funding facility of
the European Commission, and the support of French industrial families and institutional investors.
EIF commitment represents a significant milestone for Expansion and reaffirms its role as a supporter of European New
Space and New Air Mobility industries. Europe benefits of an outstanding academical excellency, hosting many
international industrial champions, but is still lagging to the US in terms of Venture Capital resources with USD6 bn
invested in the new space industry in the US vs USD1 bn in Europe in 2022, according to ESPI.
Expansion, with the support of EIF, aims at reducing that gap, by providing financing and expertise to the best
European entrepreneurs in this sector. With this first closing, Expansion joins the funds supported by the Commission's
initiative CASSINI, designed to support the growth of New Space companies in the EU.
There is a buoyant new space ecosystem in Europe with a lot of promising startups that need backing from Investment
funds to be able to compete globally. Today already more than 10% of the EU GDP is enabled by space technologies
according to EU commission; and start-ups Expansion plans to invest in will further bring benefit to European citizens,
companies and
governments.
With this first closing, the Expansion fund will be one of the largest funds in Europe dedicated to these sectors to
supporting ambitious entrepreneurs across Europe with 13 investments made to date.
Expansion targets a final closing of EUR300 million investing from early stage up to series A and B with a portfolio of
40 companies. This 1st closing will enhance the fund's financial capacity to invest in new companies and reinvest in
the subsequent rounds of its portfolio companies.
Charles Beigbeder, Chairman of Audacia and General partner of Expansion:
" Sandra, Ted, Ulf and I are grateful to EIF and CASSINI initiative to anchor Expansion, proud to bring to it the work
done so far, and glad to reach this size milestone that will give us the means to foster innovation and sovereignty
within European New Space and New Air Mobility technologies."
Marjut Falkstedt, EIF Chief Executive:
"Working alongside the European Commission to support Expansion Ventures' investments in the highly innovative field of
space technologies and new air mobility solutions is entirely in line with the EIF's strategic objectives. This is a
key area for European sovereignty and strategic autonomy, with a crucial need for funding to stay in the race and close
the gap with strong
competition from outside Europe. The resources made available to Expansion will enable it to invest rapidly in
start-ups that have already been identified, and thus contribute to the development of these important sectors of the
European economy. "
The team has identified 480 companies, follows more than 280 companies, and has already invested into 13. Thanks to
this work, Expansion will benefit from a jump start thanks to this warehousing structure which started to deploy
capital since end of 2021, allowing the team to express their strategy by pursuing investments in the following keys
areas of New Space and
New Air Mobility.
Expansion's investment key aeras and portfolio up to date:
. Micro-launchers: Latitude & HyPrSpace
. Satellites constellations (manufacturing & operations): ReOrbit
. Space data exploitation (Earth Observation, Navigation and Telecommunications): Miratlas
. In-orbit services (incl. in-space cargo and propulsion): Space Cargo Unlimited, The Exploration Company, ION-X &
Arkadia
. Space Situational Awareness: Aldoria & Look-up Space
. Space tourism: Zephalto
. Decarbonized aviation: Ascendance Flight Technologies
. Drones: EOS Technologies
. Materials, components, sub-systems, systems, and software with specific use-cases in Aerospace and Defense
industries.
For more information about Expansion and its initiatives in the New Space and New Space Mobility sectors, please visit
https://www.expansion-vc.eu/
About Audacia: Founded in 2006 by Charles Beigbeder, Audacia is an independent private equity firm specialized in three
businesses: Growth in high-growth SMEs, Real Estate focused on Coliving, and Innovation focused on disruptive
technologies. Since its creation, Audacia has invested in over 350 companies.
Contact: Éléonore de Rose - eleonore.derose@audacia.fr - +33 6 62 64 40 53
About EIF: The European Investment Fund (EIF) is a financial institution that is part of the European Investment Bank
Group (EIB Group). Its main mission is to support European micro, small and medium-sized enterprises (SMEs) by
supporting their access to finance and venture capital. The EIF is also active in supporting climate and infrastructure
fund investments with a strong focus on environmental sustainability. In this role, the EIF pursues the objectives of
the European Union to support innovation, research and development, entrepreneurship, growth, and employment.
Contact: Christophe Alix - c.alix@eib.org - +33 6 11 81 30 99
Website: www.eib.org/press - Press Office: +35 2 43 79 21 000 - press@eib.org
About CASSINI: European Commission launched the CASSINI initiative in 2021 to provide a better environment for
space-based entrepreneurs and SMEs to thrive in. CASSINI focuses on the two crucial factors for creating a healthy and
dynamic space industry: achieving faster commercial growth and raising more investment capital. Key actions in
2024-2027 include:
. Assisting companies to increase commercial revenue through CASSINI Business Accelerator.
. Providing a larger pool of VC investors with a larger investment capacity, through CASSINI Investment Facility and
InvestEU.
. Enabling EIB and private banks to become active lenders to space companies, through InvestEU and targeted workshops.
. Expanding the matchmaking arena for space businesses through CASSINI Matchmaking.
. Providing anchor customer contracts through business-friendly procurement. Using programmes like Copernicus
Contributing Missions and IRIS2 to create more opportunities for public contracts.
Source ESPI report: https://www.espi.or.at/wp-content/uploads/2023/05/ESPI-Report-85-Space-Venture-Europe.pdf
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Regulatory filing PDF file
File: AUDACIA - PR EXPANSION closing 2024 - 23.01.2024
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Language: English
Company: Audacia SAS
58 rue d'Hauteville
75010 Paris
France
E-mail: eleonore.derose@audacia.fr
ISIN: FR00140059B5
Euronext Ticker: -
AMF Category: Inside information / Other releases
EQS News ID: 1820445
End of Announcement EQS News Service
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1820445 23-Jan-2024 CET/CEST
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