Communications satellite operator SES provided an undisclosed amount of capital today for UK-based, space-focused venture capital fund Seraphim Capital.
The financing will go to Seraphim Space Fund, which was formed to develop an ecosystem around space technologies.
Seraphim Space Fund had reached a £50m ($66m) first close in November 2016, £30m of the funding coming from the government-owned British Business Bank. A second close of £80m was expected to take by April, but Seraphim Space Fund has provided no further updates.
The fund also counts aerospace company Airbus and spaceflight services provider Telespazio as limited partners, along with UK Space Agency (UKSA) and European Space Agency (ESA).
SES hopes the investment will help further R&D for the space industry. Edgar Milic, vice-president of strategic business innovation for SES, will take a seat on the fund’s advisory board alongside representatives from organisations including Airbus, Telespazio and ESA.
Christophe De Hauwer, chief strategy and development officer at SES, said: “By investing in the Seraphim Space Fund, we will be working with other leading industry partners to push beyond the capabilities of satellites.
“We look forward to identifying innovative developments along the value chains and key markets.”