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Fund profile / France

Expansion Ventures

Geography
France
Stage
Series A
Fund size
€137M
Focus
AI/ML, Climate & Sustainability and Enterprise Software
Signals
Published
Share
N°01 / About

About Expansion Ventures

Expansion Ventures is a venture capital firm based in France, focusing on Series A stage investments. The fund actively supports founders building innovative solutions in AI/ML, Climate & Sustainability, Enterprise Software, providing strategic guidance and capital to help startups scale.

N°02 / Thesis

Investment Focus

Location / RegionFrance
Funding StageSeries A
Industry Focus
AI/ML
Climate & Sustainability
Enterprise Software

Investor Signals Profile

active

Sweet Spot

European deep tech founders building sovereign/defense telecom space infrastructure

European deep tech
space infrastructure
defense innovation
dual-use / security
hard tech
sovereign technology
strategic champions
5G/NTN satellite connectivity
telecom infrastructure

Bullish Signals

Co-led €25.7M Series A (ATMOS)external
Investing in European space infrastructureexternal
Partners with EIC & Keen Venturesexternal
ATMOS flew PHOENIX 1 pre-raiselinkedin
Backs orbital return logistics gaplinkedin
Portfolio transitioning to operational deploymentlinkedin
Co-led with Balnord on ATMOSlinkedin
Backs institutional + commercial space use caseslinkedin
Alta Ares on TechCrunch 21 European Startups to Watchlinkedin
Strong conviction in sovereign space/defense momentumlinkedin
Positioned with peers like Space Forge, Cailabs, PLDlinkedin
Growing momentum around sovereign space & deeptechlinkedin
Supporting next generation of European strategic championslinkedin
UNIVITY uniSpark: world-first 5G NTN TDD mmWave orbitlinkedin
UNIVITY backed by France2030, Bpifrance, CNESlinkedin
Portfolio company demonstrating telecom infrastructure validationlinkedin
Satellite-to-telecom operator network extension narrativelinkedin
UNIVITY uniSpark proved 5G NTN TDD mmWave feasibilityexternal
UNIVITY enabling telecom operators control via spaceexternal
uniShape & uniSky next steps: validation & industrializationexternal
World-first 5G link established in orbitexternal
Spectrum resources unlocked for satellite connectivityexternal

Contrarian Signals

Niche: space logistics, limited deal flowexternal
Long capital cycles in hard techexternal
Fleet build-out = heavy capex aheadlinkedin
Competitive density in EU space/defense attracting capitallinkedin

Founder Do's

Build foundational infrastructure, not point solutions
Show operational milestones before raising
Target European autonomy & resilience angle
Co-lead rounds with strategic co-investors
Demonstrate mission proof points pre-raise
Leverage TechCrunch & media validation
Position as European strategic champion
Align with sovereign momentum narrative
Validate key tech components in orbit/field
Prove telecom operator network extension capability

Founder Don'ts

Avoid pure software plays
Don't skip traction before Series A
No US-only market focus

46 signals on Expansion Ventures

22 bullish · 4 contrarian · 10 pitch do's · 3 don'ts · 7 GP profiles, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund Size€137M
Saves1
Website
LinkedIn
People

Key People

Charles Beigbeder, Sandra Budimir, Ted Elvhage

Charles BeigbederPartner
Ted E.Partner
Sandra BudimirPartner
David DANAPartner
Maxime RoverePartner
Benjamin PaviePartner
Charles GueudetPartner
N°04 / See also

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