What investment strategy does Expanso Capital focus on?

Expanso Capital focuses on Growth, Buyout strategies in the private equity space.

How many portfolio companies does Expanso Capital have?

Expanso Capital has 23 active portfolio companies and 2 completed exits and 1 fund tracked on GP Intel.

Where is Expanso Capital headquartered?

Expanso Capital is headquartered in Bordeaux, France.

What is Expanso Capital's assets under management?

Expanso Capital manages approximately €8M in assets under management.

When was Expanso Capital founded?

Expanso Capital was founded in 1999.

What sectors does Expanso Capital invest in?

Expanso Capital invests across Energy, Industrials, Software, Business Services, Real Estate.

Home/GPs/Expanso Capital

Expanso Capital

Bordeaux, France·Founded 1999·

Growth Equity Buyout

·caisse-epargne-aquitaine-poitou-charentes.fr

Expanso Capital is the captive investment subsidiary of Caisse d Epargne Aquitaine Poitou-Charentes (BPCE group), founded in 1999 and relaunched in 2014 to provide minority equity support to regional SMEs across Nouvelle-Aquitaine. The firm invests its own balance sheet as a SA with EUR 9.4 million in share capital, systematically co-investing alongside regional vehicles such as Aquiti Gestion, NACO, and Bpifrance with tickets of EUR 50,000-500,000. With approximately 50 documented investments spanning growth equity, small buyouts, and early-stage venture, it focuses on energy transition, industrial, and business services sectors in Southwest France.

AUM

€8M

Funds

vintages 1999

Portfolio

Exits

SectorsEnergyIndustrialsSoftwareBusiness ServicesReal Estate

Key facts

HQBordeaux, France

Founded1999

Websitecaisse-epargne-aquitaine-poitou-charentes.fr

Recent exits

KAZoART

E-commerce · 2023 · 5yr hold

Sunbooster

Energy · 2023 · 4yr hold

Coverage notes

1 fund tracked, 25 portfolio companies (23 active · 2 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

Every fund Expanso Capital has raised, with its portfolio companies. Hand-checked from public filings.

1 fund

Expanso CapitalGrowth

1999 · 27yr€9M23 active · 2 realized

Unrealized

23 held

Company	Sector	Geo	Entry
Aboutir Emploi	Business Services	France	2017
AirInt'Services	Software	France	2017
Aquipierre	Real Estate	France	2025
BAM Groupe	Industrials	France	2019
BlookUp	Consumer	France	2017
Chaux Saint-Astier	Industrials	France	2023
Deal Informatique	Software	France	2015
Dronisos	Software	France	2018
Drouaire & Fils	Industrials	France	2021
FabZat	Software	France	2015
Flovea	Software	France	2023
Hertus Groupe	Industrials	France	2018
Huso	Consumer	France	2015
Hyprevention	Healthcare	France	2016
Laboratoire Isatis	Consumer	France	2020
Osmia	AgTech	France	2015
Otonomy Aviation	Industrials	France	2019
Polyrise	Industrials	France	2017
Reseau C&S	Business Services	France	2020
Sunna Design	Energy	France	2014
Tikopia	Industrials	France	2013
U'RSELF	Software	France	2016
Yuto	Software	France	2018

Aboutir EmploiActive

Business ServicesFrance· Entry 2017

AirInt'ServicesActive

SoftwareFrance· Entry 2017

AquipierreActive

Real EstateFrance· Entry 2025

BAM GroupeActive

IndustrialsFrance· Entry 2019

BlookUpActive

ConsumerFrance· Entry 2017

Chaux Saint-AstierActive

IndustrialsFrance· Entry 2023

Deal InformatiqueActive

SoftwareFrance· Entry 2015

DronisosActive

SoftwareFrance· Entry 2018

Drouaire & FilsActive

IndustrialsFrance· Entry 2021

FabZatActive

SoftwareFrance· Entry 2015

FloveaActive

SoftwareFrance· Entry 2023

Hertus GroupeActive

IndustrialsFrance· Entry 2018

HusoActive

ConsumerFrance· Entry 2015

HypreventionActive

HealthcareFrance· Entry 2016

Laboratoire IsatisActive

ConsumerFrance· Entry 2020

OsmiaActive

AgTechFrance· Entry 2015

Otonomy AviationActive

IndustrialsFrance· Entry 2019

PolyriseActive

IndustrialsFrance· Entry 2017

Reseau C&SActive

Business ServicesFrance· Entry 2020

Sunna DesignActive

EnergyFrance· Entry 2014

TikopiaActive

IndustrialsFrance· Entry 2013

U'RSELFActive

SoftwareFrance· Entry 2016

YutoActive

SoftwareFrance· Entry 2018

Realized

2 exits

Company	Sector	Geo	Entry	Exit	Type	Buyer	MOIC
KAZoART	E-commerce	France	2018	2023	Trade Sale		–
Sunbooster	Energy	France	2019	2023	Trade Sale		–

KAZoARTExited 2023

E-commerceFrance· Entry 2018

Trade Saleto

SunboosterExited 2023

EnergyFrance· Entry 2019

Trade Saleto

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About Expanso Capital

Expanso Capital is the dedicated private equity investment subsidiary of Caisse d'Epargne Aquitaine Poitou-Charentes, itself part of Groupe BPCE. The entity is registered in Bordeaux, France, and was originally created in 1999; Caisse d'Epargne relaunched it in 2014, reviving the historic mission of the former regional development company Expanso. It is a corporate bank-captive investor, a regional development-capital vehicle rather than an independent third-party fund manager, investing the parent savings bank's own resources. It does not publish a formal assets-under-management figure and operates as a single regional balance-sheet investment vehicle rather than a multi-fund manager. The firm has made roughly 19 investments to date, with activity recorded as recently as 2025.

Investment thesis

Expanso Capital pursues a regional development and growth-capital strategy, taking minority equity stakes to strengthen the capital base of companies. It invests exclusively in corporate clients of Caisse d'Epargne Aquitaine Poitou-Charentes, across all sectors and at all maturity stages, with the explicit aim of supporting growth and economic development in its territory, the Nouvelle-Aquitaine and Poitou-Charentes region of southwest France. Tickets are deliberately modest, typically €50,000 to €300,000 and up to around €500,000 in a first round. The firm invests alone but more often co-invests alongside other institutional funds, business angels or crowdfunding platforms, complementing the parent bank's buyout and transmission financing. The value-creation lever is regional proximity and the parent bank's local network.

Recent activity

Recent investments include Aquipierre, a regional company (2025), drawn from a portfolio of regional corporate clients across mixed sectors in southwest France. No specific dated exits have been publicly disclosed; as a small evergreen regional vehicle the firm does not individually publicise realisations. The platform continues to deploy minority development capital into corporate clients of Caisse d'Epargne Aquitaine Poitou-Charentes across the Nouvelle-Aquitaine region. Detailed buyer names and multiple data available on Pro at €29/month.