- Reinforcing its status as a global leader in SpaceTech investment, now managing over $550 million in active funds
- Key investors include the British Business Bank (BBB), The National Security Strategic Investment Fund (NSSIF), and leading international Defence and Space industry heavyweights
- Headquartered in the UK, with offices in the US and Germany, investing in visionary entrepreneurs worldwide
- The new fund already includes 17 best-of-breed companies, including Hubble Networks, Ascend Arc, Delos and Atmos
London, 25 February 2026 – Seraphim, a pioneering SpaceTech investment group, today announces the latest closing of its early-stage venture fund, exceeding its previous $100 million target. Key investors include the British Business Bank (BBB), The National Security Strategic Investment Fund alongside new strategic corporate backers such as Arabsat, join existing investors Eutelsat, NEC, and SKY Perfect JSAT. This latest closing further strengthens Seraphim Space’s global network of partners and its ability to back the next generation of visionary SpaceTech entrepreneurs.
Building on the success of Seraphim’s preceding SpaceTech focused venture fund, which delivered top-decile performance globally, this latest fund’s focus remains on Seed and Series A investments in transformational businesses driving the next generation of commercialisation and technological acceleration in the Space sector.
The fund has already backed 17 pioneering companies from allied nations in the US and Europe, each aligned around a common theme of how cutting edge SpaceTech capabilities combined with A.I. are now disrupting many facets of the $100 trillion global economy. Some of the key areas represented by the portfolio include:
- Defence: With Space playing an ever-greater role in global security, the likes of Auriga, Atmos Space Cargo, General Galactic and Privateer are developing the technologies needed for reliable access to, return from, and control of the ever-more contested space domain.
- Climate: companies such as Delos, Adaptive Insurance and Renoster are exploiting the confluence of vast troves of space data combined with A.I. to unlock new applications in climate adaption and resilience
- Life Sciences: LambdaVision are utilising the unique microgravity environment of space to drive innovations to improve human health that would be impossible to achieve on Earth
- Next Generation Space Infrastructure: As the cost of accessing Space continues to fall, companies including AscendArc, Array Labs, Constellr, Hubble Networks, PiLogic and Ubotica are pioneering novel space-based sensing, communication, and compute capabilities 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 that allows unmanned systems, such as aerial, maritime, or ground drones, to operate and make decisions even when communications are lost or unreliable. Mutable Tactics is addressing this challenge by enabling mixed fleets of drones to operate together as a coordinated team, rather than as individually piloted platforms. The company is building an AI‑powered decision layer that sits between the human operator and the robot. This software translates a commander’s high‑level intent and constraints into locally executable actions, allowing drones to adapt to changing conditions and coordinate with one another even when communications or GPS are unreliable. The company is expected to close its own round within the coming weeks.
Mark Boggett, CEO, Seraphim said:
“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.”
Christine Hockley – Managing Director & Co-Head of Funds, British Business Bank said:
“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.”
About Seraphim
Established in 2016, Seraphim Space has emerged as the world’s preeminent investment group dedicated exclusively to the SpaceTech sector. The firm has set the benchmark by pioneering SpaceTech as a distinct investment category, launching both the world’s first private and public venture capital funds devoted to this field. Since its inception, Seraphim has supported 149 companies spanning 33 countries, with its portfolio companies collectively raising more than $10 billion and nine achieving coveted unicorn status.
Seraphim’s comprehensive ecosystem encompasses accelerators, dedicated venture funds, and the London Stock Exchange-listed Seraphim Space Investment Trust (SSIT), enabling unparalleled global support from seed stage through to late-stage growth. Supported by leading space corporations and international space agencies, Seraphim provides ambitious SpaceTech entrepreneurs with the backing and resources needed to scale their businesses from pre-incorporation through to pre-IPO, reinforcing its position at the forefront of global SpaceTech innovation.
Further information is available at www.seraphim.vc.
Media enquiries:
Seraphim Space Communications Team:
Leah Martin: leah@seraphim.vc
William Day: william@seraphim.vc
SECNEWGATE (Communications advisors):
Team Contact: Seraphim@secnewgate.co.uk
George Esmond: george.esmond@secnewgate.co.uk
Harry Handside: harry.handyside@secnewgate.co.uk
