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Seraphim Space: Portfolio valuation rises

November 18, 2022

UK-based Seraphim Space reported its Q1 numbers on November 17th, saying that its portfolio valuation had increased by £21 million to £207 million helped by foreign exchange gains (worth £13.8 million) and investments made during the quarter to September 30th.

Seraphim had made three new investments during the quarter-year and four other follow-on transactions totalling £8.9 million. As at September 30th it had Net Assets of £250 million and a market capitalisation of £145 million.

In its market commentary, the company said: “The quarter to 30 Sept 2022 witnessed clear evidence that the wider challenges within the global economy have now started to manifest themselves in both SpaceTech and the broader venture capital market. Overall, the portfolio is performing well, with most companies growing and capitalised through the next 12 months. The fundamentals of these companies remain robust, boosted by secular trends relating to global security, food security, climate change and sustainability.”

The quarterly investments made include Voyager Space (£2.1 million), Taranis (£2.1 million) and Planet Watchers (£2.5 million).

Voyager Space has designed and developed Starlab, a next generation free flying space station. Starlab provide the facilities to host public and private astronauts, as well as forming the critical infrastructure required to support research, development & manufacturing in space.

Israel-based Taranis is improving agricultural efficiency by providing insights to growers on field health. Taranis uses satellite and drone imagery in combination with their extensive library of crop health indicators, for early detection of disease or nutrient deficiencies. These accurate and local assessments improve crop yields by better tailoring the use of fertilisers and pesticides.

PlanetWatchers provides global scale information to the crop insurance industry, including acreage reports, crop classifications, planting dates, and details the damage of flood & wind events. These services are becoming increasingly relevant for sustainable agriculture in light of the climate change Crisis, says Seraphim.

Its other major holdings include ICEYE, All Space, HawkEye360 and LeoLabs.

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