Audacia Reports 14% Growth in 2025 Driven by DeepTech

Detailed Financial Performance

Audacia generated a consolidated revenue of 15.4 million euros in 2025, compared to 13.5 million euros the previous year. After adjusting for 0.3 million euros in launch costs for the Expansion fund billed in 2024, the recurring revenue amounted to 15.7 million euros, marking a 20% increase from the 13.0 million euros recorded in 2024. Revenue from Thematic Funds grew by 40% to 10.2 million euros and now accounts for 67% of the group's total revenue, up from 54% a year earlier. This shift in business mix reflects the success of fundraising within the Quantum and Space verticals.

ISF Activity and Asset Management

ISF activity amounted to 5.1 million euros in 2025, down by 18%, reflecting the stability of ISF holdings and a gradual 35% decrease in ISF mandates. This trend is part of a trajectory to reduce the ISF within the revenue mix, from 46% in 2024 to 33% in 2025. Audacia's assets under management reached 882 million euros as of December 31, 2025, up from 705 million euros a year earlier, resulting from a combination of fundraising and revaluations, net of more than 50 million euros in distributions. Including its direct holdings and partner management companies, Audacia totals 932 million euros in assets under management.

Capital Increase and Fundraising Achievements

Audacia raised 8 million euros in February 2026 through a capital increase by issuing 1,975,308 new shares at a unit price of 4.05 euros. Concurrently, Quantonation Ventures announced the closing of its second flagship fund, Quantonation 2, at 220 million euros, surpassing its target amount of 200 million euros. The group aims for a target of one billion euros in assets under management by mid-2026, marking the completion of its first investment cycle.