By Sudip Kar-Gupta BRUSSELS, Feb 26 (Reuters) - British space technology investment company Seraphim has raised more than $100 million for its latest venture fund, it said on Thursday, highlighting
UK space investor Seraphim secures $100M+ for new venture fund
By Sudip Kar-Gupta
Funding and Market Context
BRUSSELS, Feb 26 (Reuters) - British space technology investment company Seraphim has raised more than $100 million for its latest venture fund, it said on Thursday, highlighting the sector's growth which has been driven by increasing defence spending around the world.
Space infrastructure is increasingly viewed as a strategic national priority, with countries competing for investments to gain a geopolitical edge. In the European Union, governments are trying to reduce their reliance on Elon Musk's SpaceX by boosting the region's own space and satellite industry.
SpaceTech’s Strategic Role
"SpaceTech is fast becoming the foundational enabler for artificial intelligence and digital systems that will power the global economy," said Seraphim Space CEO Mark Boggett in a statement.
Seraphim CEO’s Outlook
"This latest close of our current venture fund empowers us to continue championing breakthrough innovations that will shape industries and deliver meaningful, long-term benefits for our planet over the coming decade and beyond," he added.
Corporate Investors
Public/Sovereign Backers
Key Fund Backers
Seraphim said investors in the new fund included the British Business Bank, the UK's National Security Strategic Investment Fund (NSSIF), Arabsat and existing investors such as Paris-listed Eutelsat.
Founded in 2016
Assets Under Management
Seraphim, which was founded in 2016 and runs the Seraphim Space Investment Trust, said its latest fund-raising meant it now had more than $550 million in assets under management across its private and public active funds.
(Reporting by Sudip Kar-Gupta; Editing by Benoit Van Overstraeten)
