NCM are delighted at the news that their long-time client Seraphim Space have successfully raised £150m in the IPO of the launch of their space-focussed Seraphim Space Investment Trust (SSIT). The Trust launches with an initial portfolio of 19 seed assets from the existing Seraphim Space fund and is looking at purchasing stakes in four other businesses: Arqit, Iceye, D-Orbit and Spire. It will commence trading on Wednesday 13 July 2021 with total assets of £178.4m and is targeting 20% annual returns for investors.
The Trust launch comes within days of Richard Branson’s maiden flight with Virgin Galactic and marks a significant step in increasing the investment options available to investors in this sector – which is characterised by large private enterprises, with very few other Exchanged Traded Funds focussing on this sector. NCM have enjoyed their partnership with Seraphim, administering their initial and successor Enterprise Capital Funds, and wish them well for this next phase of their journey!
Source | Seraphim