Investor 
Citizen Capital publishes its 2025 Impact and Mission Report
An independent and pioneering impact investment firm in Europe, and a mission-led company since 2021, Citizen Capital reports on a year in which it held to a demanding line: mobilizing and deploying capital to address fundamental needs (health, education, food, ecological transition) in an impact finance market under strain.
Citizen Capital in 2025: key figures
- €275M in assets under management, across 4 impact funds and 3 strategies (businesses, farmers, social enterprises)
- 6 funds classified SFDR Article 9
- 1st French investment fund certified B Corp, with a score of 115.3
- 2,158 jobs supported across the portfolio
- 121% average achievement rate of impact targets for Growth & Early Stage portfolio companies
- First closing of €40M for ELAN Terres Agricoles, a farmland holding fund
Staying the course in a strained impact market
In 2025, fundraising dried up and part of the capital shifted away from impact toward sovereignty or defense. Many players broadened their thesis or loosened their criteria to remain attractive, but Citizen Capital made the opposite choice: staying true to its original mission. The firm completed the first closing of ELAN Terres Agricoles and made four new investments — Vesto, Didask, Phagos and Cultive — in training, the circular economy, health and sustainable agriculture.
Exploring new models: the “Funds Studio” approach
True to its pioneering DNA, Citizen Capital has accelerated its role as a “Funds Studio”: designing and incubating, with expert partners, novel investment vehicles where needs are real but capital is scarce — farmland, financing for the social and solidarity economy, diversity in tech. This exploration relies on cooperation: Citizen Capital is engaged in the collective #UnitedForImpact and Impact Europe initiatives to advocate for a demanding definition of impact investing.
Frequently asked questions
What is Citizen Capital? Citizen Capital is an independent impact investment firm founded in 2008, a pioneer and benchmark in Europe. It manages €275M in assets across 4 funds and 3 strategies (businesses, farmers, social enterprises), serving fundamental needs. A mission-led company since 2021, it is the first French investment fund certified B Corp.
What is a mission-led company? A mission-led company is a company that enshrines in its bylaws a purpose along with social and environmental objectives, whose achievement is monitored by an independent mission committee. At Citizen Capital, this committee brings together six members representing different stakeholders and meets three times a year.
