LONDON — Seraphim Space Investment Trust intends to raise up to £350 million through a new C-share offering, the firm said on Tuesday. The London-listed fund plans to channel the capital into privately held space technology companies according to its latest announcement. Defense budgets have grown across multiple regions, pushing more cash toward satellite and launch startups over the past year.
Fund managers at Seraphim buy equity stakes in these hardware and software makers using capital gathered from institutional and retail buyers. Governments around the world ramp up their defense budgets by billions of dollars, and Seraphim positions itself to capture those allocations. The funds raised from this C-share offering will be deployed in various SpaceTech ventures, the company stated.
The trust recently exited several earlier positions to return cash and free up balance sheet room, allowing it to reinvest in promising technologies. Portfolio managers look for hardware developers and data providers that sell directly to government agencies and commercial satellite operators. These portfolio firms target contracts ranging into millions of dollars for orbital reconnaissance and secure communications.
Governments signed larger contracts for secure communications over the past twelve months, aiding sector growth. That spending shift helps portfolio companies secure commercial revenue faster than they did when budgets were tight during previous fiscal cycles. National security priorities continue to drive significant demand across the European and North American defense apparatus.
The board will publish a prospectus detailing issue terms and dates on the London Stock Exchange in the coming weeks. Seraphim aims to complete the capital raise to fund its expanding pipeline of private aerospace developers. Investors on the London exchange await the formal document for exact timeline disclosures.
