London-based Seraphim Space, a SpaceTech investment group, announced that it has completed the first phase of fundraising for its new venture fund, Seraphim Space Ventures II LP (SSV II).
SSV II’s new investment partners include Eutelsat, NEC, and the SKY Perfect JSAT.
Mark Boggett, CEO and General Partner at Seraphim Space says, “We are delighted to announce that Seraphim Space Ventures II has achieved its first close and are excited to continue our quest for helping SpaceTech’s most pioneering entrepreneurs change the world for the better.”
“By focusing on investing globally and at an early stage, the new Fund will strengthen our ability to support SpaceTech’s brightest stars through every step of their journey.”
“With our investment-readiness-focused accelerator helping startups to reach the launch pad, the new Fund providing ignition for lift-off, and our listed growth fund providing the fuel to achieve escape velocity, we have a unique offering to help our companies sky-rocket.”
A specialist investor in SpaceTech
Seraphim Space is a SpaceTech investment group that manages Seraphim Space Ventures II LP. The firm leverages its global deal flow, industry partnerships, and primary research to back emerging SpaceTech companies.
Since launching in 2016, the firm has expanded its footprint to include the SpaceTech-focused accelerator, the Seraphim Space Accelerator, and the first listed SpaceTech growth fund, Seraphim Space Investment Trust PLC (SSIT).
This supports SpaceTech startups from inception to achieving growth. To date, Seraphim Space has invested in over 120 SpaceTech companies across 27 countries, collectively raising over $3B in funding.
Some of its investments include ICEYE, HawkEye 360, LeoLabs, D-Orbit, Spire Global, Voyager, AST SpaceMobile and Tomorrow.io.
What to expect from the Fund?
The Fund will concentrate on investing at the Seed and Series A stages in “visionary” entrepreneurs looking to turn science fiction into science fact.
The SSV II fund aims to invest in themes shaping the future of the space sector, including:
- the applications of AI to satellite data for real-time insights
- merging terrestrial and space-based communications networks for constant connectivity
- leveraging space’s microgravity for scientific breakthroughs, and
- developing space-based networks for edge computing and data relay to support the in-orbit economy.
SSV II is adopting a strategy similar to its predecessor by aiming to build a portfolio of 30 companies focused on SpaceTech. The Fund has already made nine investments aligned with key themes through a warehouse portfolio.
Some investments include Hubble, which develops an Internet of Things satellite constellation for direct connectivity to billions of Bluetooth-enabled devices; Delos, a space data-powered wildfire home insurance provider; ATMOS, offering a space cargo return service for life sciences; and Auriga, focused on a novel electromagnetic launch system.
James Bruegger, Chief Investment Officer and General Partner at Seraphim Space, says, “Investors are increasingly recognising SpaceTech’s outlier potential with record numbers of VC investments being closed every quarter. This stands in stark contrast to the recent contraction in investment activity in the wider VC market.”
“With a ten-fold increase in the number of satellites in orbit anticipated over the coming decade and the cost for both launching to and returning from, orbit continuing to fall, we believe that the impact of SpaceTech will reshape much of the world as we know it.”
“By helping to turn science fiction into science fact, the companies we are aiming to back with the new fund hold the promise of unlocking the future – and in the process, themselves becoming planetary scale successes.”
Brief about the Seraphim Space Investment Trust plc
Seraphim Space Investment Trust plc is a listed fund specialising in SpaceTech. Listed on the Premium Segment of the London Stock Exchange, the fund is managed by Seraphim Space Manager LLP.
It targets early and growth-stage private financed SpaceTech businesses looking to achieve global dominance, particularly focusing on sector leaders with first-mover advantages in climate, communications, mobility, and cybersecurity.
The fund disclosed the sale of its entire stake in nine early-stage portfolio companies to Seraphim Space Ventures II LP.
This new private venture capital vehicle, managed by Seraphim Space Manager LLP, will acquire these interests for a total consideration of £3.8M, to be settled through the issuance of an interest in the Venture Fund to SSIT.
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