Seraphim Space, a venture capital investment group focused solely on the space tech industry, has exceeded $100m (£74m) at the close of its latest fund.
An early-stage venture fund, the investment vehicle has so far backed 17 companies, all based around how advanced space technology, combined with AI, can make a major impact on the global economy.
Among the key applications for the space tech developed by firms backed by the fund are defence, climate tech, life sciences wherein low-gravity environments are used to produce pharmaceuticals, and infrastructure to support the growing space economy.
“Ten years on from raising our first SpaceTech fund, we are still only in the early phases of tapping into the immense opportunities that Space holds to transform all our lives,” said Seraphim Space chief executive Mark Boggett.
“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.”
Investors in the fund include British Business Bank, The National Security Strategic Investment Fund, Arabsat, Eutelsat, NEC, and SKY Perfect JSAT.
“This investment is another example of the long-term impact of the Bank’s cornerstone commitmentsm,” said British Business Bank managing director and co-head of funds Christine Hockley.
“We have been a partner of Seraphim since their first fund, and the firm has successfully carved out a niche in a rapidly advancing area of frontier technology. By making a cornerstone commitment to Seraphim, we are expanding the pool of capital available for the UK’s space entrepreneurs and helping a specialist UK fund manager to thrive.”
Seraphim Space was established in 2016. Headquartered in the UK and with offices in the the US and Germany, it claims to be the largest space tech investor in the world.
