Catapult welcomes launch of £50m Seraphim Space Fund

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The Satellite Applications Catapult has welcomed the launch of the £50m Seraphim Space Fund, describing it as a ‘game-changing boost to the UK space industry’.

The UK-based fund is the first of its size anywhere in the world, focusing on investing in early-stage technology companies emerging from the ‘new space’ revolution. It will invest in commercial applications in both software and hardware opportunities, as well as in technologies that have potential space applications such as artificial intelligence, robotics and nanomaterials.

Stuart Martin, CEO of the Satellite Applications Catapult, said: “We have no doubt that the launch of the Seraphim Space Fund will be a game-changing boost to the UK space industry.

“Given its broad remit, there are big opportunities for stakeholders of all sizes – from start-ups through to SMEs and larger organisations – to benefit from the investment available, further proving the value of satellite-derived data in delivering commercial advantage and social innovation. We look forward to supporting the fund’s activities through our network and central role in the space and satellite applications start-up ecosystem in the UK.”

The fund is targeting an £80m final close during the next two quarters.

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About the Satellite Applications Catapult

Satellite Applications Catapult Ltd is one of a network of UK technology and innovation companies which aim to drive economic growth through the commercialisation of research. The aim of the Satellite Applications Catapult is to support UK industry by accelerating the growth of satellite applications and to contribute to capturing a 10% share of the global space market predicted by 2030. It aims to achieve this by exploiting the innovation potential in the UK industrial and academic communities, by being a focal point where small and medium enterprises, large industry and end users can work together with researchers to challenge barriers, explore and develop new ideas, and bring these to commercial reality.

About Seraphim Space Fund

Building upon the smart capital ethos that has always underpinned the Seraphim strategy, the Seraphim Space Fund pioneers a multi-corporate backer model, harnessing the collective experience and expertise of leading space industry incumbents to provide the start-ups the fund will invest in with unparalleled access to and guidance from the top echelons of the space sector. The space focus of the latest Seraphim Fund was the brainchild of David Williams, CEO of UK quoted satellite operator Avanti Communications Group plc. David, who joined the fund as Chairman of the Advisory Board, recognised the need for a venture capital fund to help foster the most innovative space-tech companies at a time of unprecedented change within the space industry. The Seraphim Space Fund was conceived as a way of nurturing promising space-related start-ups in a bid to support the ambitious targets of tripling the UK space sector by 2030.

About Seraphim Capital

Seraphim is a London-based venture capital fund manager. Seraphim typically invests at Series A stage into IP-led businesses that have the potential to redefine large existing markets or create entirely new ones. Over the last decade this has included artificial intelligence (computer vision, neural networks, machine learning), the Internet of Things (software, sensors) and advanced materials (polymers, semiconductors). Collectively, the Seraphim team has more than 100 years’ experience, having invested in over 180 early and growth stage businesses.