Seraphim Space Portfolio reaches 100 companies
June 21, 2023
Seraphim Space, the global space investment company, has announced it is supporting 100 space companies with equity funding.
In 2016 Seraphim launched a venture fund focused on space, followed by a dedicated SpaceTech Accelerator in 2017 (now on its 11th cohort). Following an oversubscribed IPO of £250 million in 2021 the first publicly listed growth fund was born, the Seraphim Space Investment Trust.
In this period of time, the Seraphim portfolio has grown with companies covering almost every aspect of the SpaceTech ecosystem. The 100 companies supported by Seraphim have collectively raised $2.2 billionn in equity funding with an enterprise value of more than $10 billion. The companies span all stages of the investor landscape, with $1.8 billion invested into companies Series B or later.
Over a third of the portfolio is made up of UK companies.
These investments have spanned the entire space ecosystem. From satellite companies which provide earth monitoring services to ensure sustainability, security, and communications on Earth to those providing the in-space infrastructure to support this economy from logistics and space debris removal to space stations. Within this unique group of companies approximately 50 per cent are upstream, 30 per cent downstream, and the remaining 20 per cent relate to the in-Space economy.
Seraphim sees satellites as the tools and data for the business which has led to the greatest area of growth in the industry. Seraphim’s primary area of interest has been satellite constellations. Utilising the new economics of accessing space, through lower cost of launch, and miniaturisation of satellites, companies have been able to collect Earth observation data in all types of modalities (Optical, Hyperspectral, SAR, Lidar). These companies are at the frontier of tomorrow, shaping a better future on Earth.
Space Investment is now truly global, and the portfolio reflects this geo-diversity. By volume, Europe accounts for 61 per cent of the portfolio, North America 30 per cent and Asia 7 per cent. By value, North America is nearly half, with a third in European and 17 per cent in Asia. The Seraphim portfolio continues to reflect the global growth of the Space market by adding the first African start-up to the Seraphim Accelerator Mission 11 cohort.
Investment opportunities have continued to grow exponentially with the company increasing its completion of yearly investment deals sixfold from 7 in 2017 to a high of 45 in 2021. This is in line with the 400 per cent increase in investment levels since Seraphim launched. The company completed 34 last year and has already facilitated nine investment deals in the first quarter of this year as the investment landscape begins to improve. With revenue drivers around climate change and global security, the Seraphim portfolio companies are now forecasting nine-digit revenues for 2023.
Mark Boggett, CEO of Seraphim Space, said: “We are delighted to celebrate reaching 100 companies in the portfolio supported by Seraphim. it’s a key milestone which illustrates our position as the global leader in Space investment, providing both the capital and opportunities for the next generation of global leaders to flourish and grow at scale. Despite the macro backdrop the Space industry is experiencing unprecedented growth. We are merely at the start of an upward trajectory that will see new SpaceTech companies being given the funds to transform and reshape every aspect of our lives.”