Expansion Ventures
Expansion Ventures is a European DeepTech venture capital fund that invests pre-seed through Series B in Aerospace & Defence startups. With €145M under management and 24 portfolio companies, the Paris-based firm targets European sovereignty in space, defence, and AI-defence technologies.
- Company typePrivate
- Founded2023
- HeadquartersParis, France
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Expansion Ventures does
Expansion Ventures (Expansion VC) is a European DeepTech venture capital fund focused exclusively on early-stage Aerospace & Defence startups. Founded in 2023 and headquartered in Paris with additional offices in Stockholm and Luxembourg, the firm invests from pre-seed through Series B with first tickets ranging from €0.5M to €2M. The fund is anchored by General Partners Charles Beigbeder (founder of Audacia and Quantonation) and Ted Elvhage, supported by a lean six-person investment team. As of the most recent reporting, Expansion manages €145M in committed capital across 24 portfolio companies and has recorded one confirmed exit (The Exploration Company, 2021).
The fund's investment thesis is centered on European technological sovereignty in space and defence, targeting six vertical sub-sectors: satellite systems and constellations, space data and applications, in-orbit services and infrastructure, C4ISR and secure communications, AI x defence systems, and robotics and autonomous systems. Notable portfolio companies include ReOrbit (software-enabled secure communications satellites, €45M Series A), UNIVITY (VLEO 5G satellite connectivity, €27M Series A), ATMOS Space Cargo (orbital return infrastructure, €25.7M Series A), HyPrSpace (hybrid propulsion, €21M Series A), and Skynopy (LEO ground connectivity-as-a-service, €15M). The fund is institutionally backed by the European Investment Fund and operates with European Commission support under the InvestEU program.
The business model follows a standard closed-end venture capital structure: revenue is generated through management fees on committed capital under management (€145M AUM) and carried interest on future successful exits. Deal flow is sourced through direct outreach, portfolio company referrals, industry events, and an institutional co-investment network that includes Bpifrance Deeptech 2030, CNES SpaceFounders, the European Innovation Council, and peer VCs such as Alven, Balnord, Blast.Club, and Omnes. The firm markets primarily through its website, a weekly newsletter, LinkedIn, and direct engagement within the European Aerospace & Defence startup ecosystem.
Expansion Ventures firmographics
Firmographics- Name
- Expansion Ventures
- Legal name
- Expansion
- Website
- https://expansion-vc.eu
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Expansion Ventures is a European DeepTech venture capital fund that invests pre-seed through Series B in Aerospace & Defence startups. With €145M under management and 24 portfolio companies, the Paris-based firm targets European sovereignty in space, defence, and AI-defence technologies.
- Ownership category
- akta.pro rank
Expansion Ventures industry classification
Industry- Product category
- Venture Capital Fund Management
- NAICS
- Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
Keywords
Where Expansion Ventures is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices3 records
Markets served
Expansion Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Fund Management: Revenue generated through management fees on committed capital under management and carried interest (carry) on fund returns from successful portfolio exits.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Expansion Ventures product offering
Product offeringCore offering
Expansion Ventures is an early-stage European DeepTech venture capital fund that invests equity capital from pre-seed to Series B into Aerospace & Defence startups. First tickets range from €0.5M to €2M, deployed across six thematic areas: satellite systems & constellations, space data & applications, in-orbit services & infrastructure, C4ISR & secure communications, AI × defence systems, and robotics & autonomous systems. Beyond capital, the fund provides deep sector expertise, strategic insight, and long-term operational support to help portfolio companies scale.
Product overview
Expansion Ventures is an early-stage venture capital fund focused on Aerospace & Defence technology investments across Europe. The firm does not offer a product-based portfolio in the traditional sense; rather, it provides investment capital from pre-seed to Series B stages to space and defence technology companies. Their investment focus spans six primary sectors: satellite systems & constellations, space data & applications, in-orbit services & infrastructure, C4ISR & secure communications, AI × defence systems, and robotics & autonomous systems. The firm manages approximately €145 million across 24 investments and has one exit to date.
Differentiator
Problem solved
Functional benefit
Products and services
- Expansion VC Fund I (Early-Stage Aerospace & Defence Fund)
Quantifiable outcome
- 24 portfolio companies invested since inception
- +1 more outcomes
Companies that use Expansion Ventures
Customer profileSegments2 records
Ideal customer profiles2 records
Expansion Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Expansion Ventures partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights5 records
Expansion Ventures competitors and assessment
Company assessmentDirect peers
- Quantonation: Deep-tech VC focused on quantum physics and adjacent technologies, founded by Charles Beigbeder. Sister-vehicle relationship and shared GP; competes for similar DeepTech founder mindshare and LP capital in Europe.
- Seraphim Space: Largest dedicated space-tech VC globally; runs multi-fund space-only vehicles investing from pre-seed to growth across Europe/US. Direct competitor for the same founders and LP mandates in European NewSpace.
- Frontwave Capital: European early-stage VC focused on aerospace, defence and dual-use technologies with offices in Paris and Brussels. Closest direct competitor given overlapping thesis, geography and stage focus.
- Decisive Point: US- and Europe-active defence tech VC investing in dual-use startups. Direct peer for European defence-tech founders, especially in C4ISR, autonomous systems and AI-defence — the verticals Expansion also targets.
- Creo Capital: European early-stage fund specifically targeting defence and security tech startups. Overlaps directly with Expansion's C4ISR, AI-defence and dual-use robotics verticals and competes for the same restricted/defence-cleared founder pool.
Broad incumbents
- Alven: Paris-based early-stage VC with a deep-tech practice (including space/defence) that has co-invested alongside Expansion (e.g., Skynopy). Competes for the same European deep-tech founders with broader sector mandates and a larger fund.
- Vsquared Ventures: Munich-based deep-tech VC investing across quantum, space, mobility, and AI with pan-European mandate. Overlaps with Expansion in deep-tech aerospace founders and LP universe, but with broader vertical focus.
- Omnes Capital: French private equity firm with deep-tech and growth practices; co-invested alongside Expansion (Skynopy). Comparable as a French institutional capital provider, though with much broader sector mandate.
- Earlybird: Pan-European early-stage deep-tech VC investing in aerospace, mobility and frontier tech. Overlaps with Expansion in European deep-tech aerospace founders and LP ecosystem, but with a broader mandate and later-stage follow-on capacity.
Regional players
- Balnord: Space-sector-focused European investment firm; co-led ATMOS Space Cargo Series A with Expansion. Comparable as a space-focused specialist but operates from a single Nordic base and runs a smaller vehicle.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Expansion Ventures social profiles
Digital presenceExpansion Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Expansion Ventures leadership team
Management profileNumber of profiles
Profiles6 records
Expansion Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Expansion Ventures M&A and investment
M&A and investmentM&A
Investments23 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Expansion Ventures
What does Expansion Ventures do?
Expansion Ventures is an early-stage European DeepTech venture capital fund that invests equity capital from pre-seed to Series B into Aerospace & Defence startups. First tickets range from €0.5M to €2M, deployed across six thematic areas: satellite systems & constellations, space data & applications, in-orbit services & infrastructure, C4ISR & secure communications, AI × defence systems, and robotics & autonomous systems. Beyond capital, the fund provides deep sector expertise, strategic insight, and long-term operational support to help portfolio companies scale.
Is Expansion Ventures a public or private company?
Expansion Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Expansion Ventures founded?
Expansion Ventures was founded in 2023. It employs 1 to 10 people.
Where is Expansion Ventures based?
Expansion Ventures is headquartered in Paris, France, in the Europe region.
How does Expansion Ventures make money?
One revenue line is on record: fund Management.
Who are Expansion Ventures's main competitors?
Direct peers on record are Quantonation, Seraphim Space, Frontwave Capital, Decisive Point and Creo Capital. Broad incumbents are Alven, Vsquared Ventures, Omnes Capital and Earlybird. Balnord is listed as a regional player.
Does Expansion Ventures have an API?
No public API is recorded for Expansion Ventures.
What industry is Expansion Ventures in?
Expansion Ventures's product category is Venture Capital Fund Management. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 52394 and its SIC code is 6282.