Seraphim Space Investment Trust has raised £137m from its recent issuance of C-shares announced late last month.
The group, which primarily invests across the space technology sector, announced on 27 April that it was looking to raise up to £350m through the offering of C-shares.
The decision was made in part to take advantage of a recently introduced regulatory regime that increased the threshold for investment trusts to be able to issue up to 100% of their existing share capital without a prospectus.
Through the equity raise announced today marks the first tranche of its C-share issuance.
“The success of this C Share issue reflects growing confidence in the space sector, which continues to accelerate, as evidenced by a portfolio trade sale and IPO both announced in the last week,” said the group’s chief executive Mark Boggett.
“We look forward to deploying the proceeds of the Issue at pace into a portfolio of pre-identified existing and new investment opportunities, each private company selected for its leadership position within its respective sub-category across the increasingly broad and strategically important space domain.”
The British space tech sector has seen a strong period of growth, with the last few weeks alone seeing significant funding rounds for firms including BioOrbit and Spaceflux.
“We are delighted by the breadth and depth of investor support for this C Share issue, the largest fundraise by an investment company since 2023,” added Will Whitehorn, chair of SSIT.
