Seraphim Space launches second venture capital fund with nine investments already secured

Seraphim Space, a UK-based space tech investment group, is making waves in the industry with the formal launch of its second VC fund. The fund has already secured limited partners, including aerospace giant Airbus, and is set to build a global portfolio of 30 startups at the seed and Series A stages.

CEO Mark Boggett has kept the fund’s targeted size under wraps, but hinted that it will surpass the previous fund of £70 million. The space tech market is booming, with projections estimating it to be worth $1.8 trillion by 2035, attracting a growing number of investors.

Seraphim Space’s first fund saw impressive returns, dispelling the notion that space investment is high risk and long term. The firm’s success has been driven by strategic investments in companies like UltraSoC and Spire Global.

However, the public market’s volatility has impacted Seraphim Space Investment Trust (SSIT), forcing the firm to focus on follow-on investments rather than new deals. Despite challenges, Seraphim Space remains optimistic about the future of space tech investments.

The fund’s investment themes include AI applications in space data, in-orbit computing, space-enabled communications, and microgravity for science. These areas have the potential to revolutionize industries like agriculture, infrastructure, and biopharma.

While defense is not a highlighted investment theme, Boggett acknowledges its significance in the space tech sector. The focus remains on commercial opportunities, with an eye towards broader market sectors.

Seraphim Space’s second VC fund is poised to make a significant impact in the space tech industry, driving innovation and growth in a rapidly evolving market.