Seraphim Space Supporting Startup Spacetech Companies
Announces First Close on New Early Stage Fund
SpaceTech-focused investment group Seraphim Space, has announced the first close of its new venture fund, Seraphim Space Ventures II LP (“SSV II” or the “Fund”).
“Investors are increasingly recognizing SpaceTech’s outlier potential with record numbers of VC investments being closed every quarter.”
James Bruegger, Seraphim Space
Seraphim Space was founded to exploit the emerging trillion dollar market opportunity being created through the advent of large constellations of low cost, miniaturized satellites that, for the first time, enable ubiquitous communication and the capturing of real time insights at planetary scale.
Having launched the world’s first venture fund focused on SpaceTech in 2016, Seraphim Space now also operates the world’s leading SpaceTech focused accelerator, the Seraphim Space Accelerator, as well as the world’s first listed SpaceTech growth fund, Seraphim Space Investment Trust PLC (“SSIT”).
Through this innovative model of supporting SpaceTech’s brightest stars from their inception through to helping them achieve escape velocity, Seraphim Space has gone on to establish itself as the most prolific SpaceTech investor globally, having supported more than 120 SpaceTech companies in 27 countries worldwide that collectively have raised more than $3 billion in funding. Notable investments include category leaders such as ICEYE, HawkEye 360, LeoLabs, D-Orbit, Spire Global, Voyager, AST SpaceMobile and Tomorrow.io.
Building on a roster of historic corporate backers that include major players from the space sector such as Airbus, SES, Teledyne, Telespazio, Inmarsat and MDA, SSV II further strengthens Seraphim Space’s heavyweight industry backing with the addition of Eutelsat, NEC and SKY Perfect JSAT.
With the space sector now entering the next phase of its transformation, the Fund will focus on investing at Seed and Series A stages in the next generation of visionary entrepreneurs looking to transform science fiction into science fact. Key themes the Fund anticipates investing in include:
the application of artificial intelligence to the treasure trove of satellite data to unlock near real time insights about the world to help combat challenges posed by climate change and global security
the merging of terrestrial and space-based communications networks to enable ‘always on’ ubiquitous connectivity for both people and machines
utilizing the unique microgravity environment of space to drive the next wave of scientific breakthrough in areas such as biotech and material science
the creation of space-based networks for on-orbit edge compute, internet/ communications and data relay to power the developing in-orbit economy
Following the same strategy to its original SpaceTech-focused venture fund that was a top performing fund for its vintage, SSV II is aiming to build a portfolio of c.30 companies. The Fund has already made nine investments aligned with some of these key themes via a warehouse portfolio. Some of these investments include:
Hubble – Internet of Things satellite constellation for connecting directly to billions of Bluetooth enabled devices
Delos – Space data powered wildfire home insurance provider
ATMOS – Space cargo return service for life sciences
Auriga – Novel electro-magnetic launch system
“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," said Mark Boggett, CEO and General Partner at Seraphim Space. "With our investment-readiness focused accelerator helping start-ups 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.”
“Investors are increasingly recognizing 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," said James Bruegger, Chief Investment Officer and General Partner at Seraphim Space. 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.”