Seraphim has announced the latest closing of its oversubscribed early-stage venture fund, exceeding its previous £75 million target. Key investors include the British Business Bank (BBB),The National Security Strategic Investment Fund (NSSIF) alongside new strategic corporate backers such as Arabsat, join existing partners Eutelsat, NEC, and SKY Perfect JSAT.T This latest closing further strengthens Seraphim Space’s global network of partners and its ability to back the next generation of visionary SpaceTech entrepreneurs.
This latest fund's remains on Seed and Series A investments in transformational businesses driving the next generation of commercialisation and technological acceleration in the Space sector, investing globally. The fund focuses on backing companies developing space-enabled technologies across sectors including defence, climate, life sciences and next-generation space infrastructure. It targets businesses combining SpaceTech capabilities with artificial intelligence to address applications across multiple industries.
With this latest close, Seraphim now manages more than £400 million in assets under management across its active private and public funds. The fund has already backed 17 companies in the US and Europe.
Since its inception, Seraphim has supported 149 companies across 33 countries, with portfolio companies collectively raising more than £10 billion and nine achieving unicorn status.
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. The recent SpaceX–xAI merger is a clear validation of Seraphim’s long-held view: SpaceTech is fast becoming the foundational enabler for artificial intelligence and digital systems that will power the global economy. 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.
This investment is another example of the long-term impact of the Bank’s cornerstone commitments. 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.
