Seraphim, a UK-headquartered SpaceTech investment group with offices in the US and Germany, announced the latest closing of its early-stage venture fund, exceeding its previous $100 million target. With this close, the firm now manages more than $550 million in active funds, reinforcing its position as a global leader in SpaceTech investment.
Key investors in the fund include the British Business Bank and The National Security Strategic Investment Fund, alongside new strategic corporate backers such as Arabsat. They join existing investors Eutelsat, NEC, and SKY Perfect JSAT, further expanding Seraphim Space’s international network of industry and government partners.
The new fund builds on the performance of Seraphim’s prior SpaceTech-focused vehicle, which the firm says delivered top-decile results globally. The latest fund will continue to focus on Seed and Series A investments in transformational businesses advancing commercialization and technological acceleration across the space sector.
To date, the fund has invested in 17 companies across allied nations in the US and Europe. These portfolio companies are aligned around the convergence of advanced SpaceTech capabilities and artificial intelligence, targeting opportunities across the $100 trillion global economy.
In defence, portfolio companies such as Auriga, Atmos Space Cargo, General Galactic, and Privateer are developing technologies to support reliable access to, return from, and control of the increasingly contested space domain.
In climate, companies including Delos, Adaptive Insurance, and Renoster are leveraging space-derived data and AI to unlock new applications in climate adaptation and resilience.
In life sciences, LambdaVision is utilizing the microgravity environment of space to drive innovations aimed at improving human health in ways not achievable on Earth.
In next-generation space infrastructure, companies such as AscendArc, Array Labs, Constellr, Hubble Networks, PiLogic, and Ubotica are pioneering space-based sensing, communications, and compute capabilities designed to accelerate the convergence of terrestrial and orbital infrastructure.
The fund’s most recent investment is Mutable Tactics, a Cambridge, UK-based deep-tech defence startup. The company is developing an AI-powered decision layer that enables unmanned aerial, maritime, and ground systems to operate collaboratively and autonomously, even when communications or GPS signals are lost or unreliable. Its software translates a commander’s high-level intent into locally executable actions, allowing coordinated drone fleets to adapt to changing conditions. Mutable Tactics is expected to close its own funding round in the coming weeks.
Founded in 2016, Seraphim Space focuses exclusively on the SpaceTech sector. Since inception, the firm has supported 149 companies across 33 countries. Its portfolio companies have collectively raised more than $10 billion, with nine achieving unicorn status. Seraphim’s ecosystem includes accelerators, dedicated venture funds, and the London Stock Exchange-listed Seraphim Space Investment Trust, supporting companies from seed stage through to pre-IPO growth.
KEY QUOTES:
“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.”
Mark Boggett, CEO, Seraphim
“The launch of this fund is another example of the long-term impact of the Bank’s cornerstone commitments. We backed Seraphim’s first fund space fund ten years ago, and the firm has successfully carved out a niche in the rapidly advancing space technology market. 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.”
Christine Hockley, Managing Director & Co-Head of Funds, British Business Bank
