Audacia Raises €137M at First Close of Pan-European VC Fund

Audacia said subsidiary Expansion Ventures has raised €137M (~$142.8M) at the first close of its sustainable aerospace and defense-focused pan-European private venture capital fund, Expansion SLP.

The fund is aiming to close at €200M (~$208.4M). The French private equity firm said as of the first close, it secured commitments from insurance companies, banking groups, industrial family holdings and high-net-worth investors.

Operating out of Paris and Stockholm, Expansion’s fund has made 19 investments to date including in startups focusing on micro-launchers, satellite constellations, space data exploitation, in-orbit services and decarbonized aviation. At full capacity, the fund intends to invest in roughly 30 companies.

Since its establishment in 2006, Audacia has invested over €1B (~$1.04B) in more than 400 companies. Its portfolio includes Soulmaite, Stickerkid, IdealVoyance, Kandle, Galaxy Nova and IWS.