Founded in 2021, Seraphim Space Investment Trust Plc is the world’s first listed closed-ended space tech fund that targets early and growth stage Space Tech businesses with potential to dominate globally and are sector leader with first mover advantages in area such as communication, cyber security, climate and mobility. The space tech industry has become central to some of the megatrends that will reshape the world. The trust has access to massive and consistent global deal flow of around 50 opportunities every month and seed portfolio of 19 businesses from Seraphim Space Fund VC of worth £100 million with all existing investors rolling over.
The company has appointed Seraphim Space LLP as its alternative investment fund manager. Its objective is to deliver long-term capital growth to its investor through investment in a diversified international portfolio of Space Tech Businesses. The company will invest globally to maintain a diversified portfolio mainly located in the UK, US and Europe and its portfolio is expected to include 20 to 50 holdings in form of equity and equity-related instruments. It may also invest in other financial instrument such as warrants, securities, futures, options, derivatives, convertible loans notes, loan stocks, preferred equity and bonds. It may also invest in other debt-based investments and may undertake secondary transactions that include the acquisition of existing stakes. It may acquire investments directly or through special purpose vehicles and it will not invest in other listed closed-ended investment funds.
The company usually only invest in listed companies that is the part of the Retained Assets, the Initial Portfolio or in circumstances where it has already made an initial investment prior to the portfolio company’s initial public offering (IPO). However, it may invest up to 5% of gross asset value in listed companies that are not its part. No more than 15% of the gross asset value should be invested in any single portfolio company or other entity, provided that the aggregate value of a single holding in any single portfolio company or other entity may represent up to 20% of the gross asset value. Its aggregate investment in listed companies should not represent more than 30% of the gross asset value.
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