UK-based venture capital fund Seraphim Capital has closed its £70m ($95m) space technology fund with commitments from limited partners including corporates SES, Airbus and Telespazio, SpaceNews reported on Monday.
Communications satellite operator SES, aerospace company Airbus and spaceflight services provider Telespazio were joined by UK government-owned British Business Bank, UK Space Agency and Satellite Application Catapult as well as the intergovernmental European Space Agency.
Seraphim Space Fund was formed to develop an ecosystem around space technologies but will also back other aerospace-related sectors such as unnamed aerial vehicles. It previously reached a £50m first close in November 2016, with £30m of the funding coming from British Business Bank.
A second close of £80m had been expected to take by April, but that target has not yet been reached.
Michael Jones, founder of satellite imagery platform Google Earth, has joined the fund as a managing partner.
– This is an updated version of a story that appeared last week on Global Corporate Venturing.