Seraphim Space Exceeds €84M Target In Early-Stage SpaceTech Fund

Investors include the British Business Bank (BBB) and the National Security Strategic Investment Fund (NSSIF), alongside new strategic corporate backers such as Arabsat, joining existing partners Eutelsat, NEC, and SKY Perfect JSAT.

Founded in 2016, Seraphim Space pioneered SpaceTech as a distinct investment category, launching both the world’s first private and public venture capital funds dedicated to this sector. Since inception, the firm has supported 149 companies across 33 countries, with portfolio companies raising over €11.4 billion (£10 billion) and nine achieving unicorn status.

Seraphim’s ecosystem includes accelerators, dedicated venture funds, and the London Stock Exchange-listed Seraphim Space Investment Trust (SSIT), providing support from Seed stage through late-stage growth. The firm now manages more than €465 million ($550 million) in AUM across its private and public active funds.

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The fund has already backed 17 companies from allied nations in the U.S. and Europe, each leveraging SpaceTech capabilities combined with AI to disrupt the €84 trillion ($100 trillion) global economy.

Its most recent investment is Mutable Tactics, a Cambridge-based DeepTech defense startup. Mutable Tactics enables unmanned systems whether aerial, maritime, or ground drones to operate and make decisions even under lost or unreliable communications.

The technology allows mixed fleets of drones to act as coordinated teams rather than individually piloted platforms. The company is expected to close its own funding round in the coming weeks.

Mark Boggett, CEO of Seraphim Space, says: “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.

Christine Hockley, Managing Director and Co-Head of Funds, British Business Bank says: “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.”

About Seraphim Space

Seraphim Space is the world’s leading specialist investor in SpaceTech, supporting over 145 companies globally. Focused on tackling humanity’s greatest challenges, the firm provides funding, expertise, and strategic guidance to innovators, making it the most prolific SpaceTech investment group driving growth and technological breakthroughs worldwide.