Seraphim Space, the U.K.-based space tech investment group, is formally launching its second VC fund following its first close with limited partners, including Eutelsat, TechCrunch learned exclusively. The early-stage fund will build a global portfolio of 30 startups that will be backed at the seed and Series A stages. CEO and manager Mark Boggett declined to disclose the percentage reached and fund’s targeted size but said it should be larger than Seraphim Space’s 2017 £70 million VC fund (around $95 million at the time). Like its predecessor, Seraphim’s second VC fund, SSV II, is backed by major players from the aerospace sector looking to keep up with innovation. This time around, Seraphim will also be operating in a busier and more competitive market. Investors have become increasingly aware of space startups and the broader market, which could be worth $1.8 trillion by 2035, up from $630 billion in 2023, according to a recent report by the World Economic Forum and McKin… Click below to read the full story from TechCrunch
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