Seraphim Space Investment Trust: Q1 Results

19th November 2021 | Seraphim Space Investment Trust

Seraphim Space Investment Trust plc (LSE: SSIT), the world’s first listed SpaceTech fund, announces its first quarter results for the three-month period ending 30 September 2021.

The full Q1 report can be found at https://investors.seraphim.vc/wp-content/uploads/2021/11/SSIT-30th-Sept-21-Quarterly-Report-v.-FINAL1.pdf

summary below:

Q1 Financial Highlights as at 30 September 2021

  • Net assets increased 26% to £221 million
  • Net asset value (NAV) per share increased 6% to £1.04
  • Portfolio value of £99m
  • Liquid resources available of £124 million (56% of NAV)

Q1 Investment Highlights

  • £34 million in new equity raised via completion of acquisition of two assets agreed pre-IPO (“Retained Assets”)
  • £22 million in follow-on investments completed

Post Period Investment Highlights

  • One follow-on and one new investment completed, deploying cash of £22.6 million

Will Whitehorn, Chair of Seraphim Space Investment Trust plc, commented: “In the few short months since SSIT’s IPO, barely a day has passed without the Space sector being front page news. The dawn of the era of Space tourism has been ushered in by two of the world’s most recognisable entrepreneurs – Sir Richard Branson and Jeff Bezos – competing for the accolade of being first to reach orbit. A slew of public market listings and M&A has followed, with SpaceTech investment levels setting new records.

Perhaps most importantly, COP26 has shown both the urgency with which the world must act to combat climate change and the unique role SpaceTech can play in achieving this. Having hit the ground running with five transactions completed during the period, we fully expect SSIT’s portfolio companies to be central protagonists in the Space sector’s quest to help solve some of our world’s most pressing challenges.”

Mark Boggett, Chief Executive Officer, Seraphim Space (Manager) LLP, said: “We are encouraged by the performance of the portfolio in the short period since the Company’s IPO. The SpaceTech investment market remains buoyant, with record levels of private investment. The investment community and wider world is now increasingly recognising both the attraction of SpaceTech’s long term growth potential and the unique role it can play in helping to address some of our most pressing challenges. As the world’s first listed SpaceTech focused fund, the Company is well positioned to capitalise on these trends and further expand its portfolio of fast-growing businesses with transformative potential.”

News in full

In the video below, CEO Mark Boggett outlines Seraphim’s Investment Strategy