Seraphim Space Investment Trust PLC (LSE:SSIT) reported 26% growth in net assets as it unveiled its maiden set of quarterly results since floating in July.
Self-styled as the world's first listed fund focused on spacetech, the investment trust had amassed a portfolio of 17 investments with a value of £99mln by the end of September, with net assets valued at £221mln.
Net asset value per share increased 6% to 104p.
“We are encouraged by the performance of the portfolio in the short period since the company's IPO,” said Mark Boggett, the chief executive.
“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.”
Chair Will Whitehorn said the recent COP26 summit in Glasgow “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”.
There was £124mln of liquidity at the end of the quarter, following £56.7mln of investment during the period, of which £34.7mln was in new equity and £22mln follow-on funding for three portfolio companies.
Since the period end another £22.6mln has been deployed, consisting of one follow-on and one entirely new investment that had not been flagged during the IPO process, being a US$25mln investment into HawkEye 360 Inc, a commercial provider of space-based radio frequency (RF) data and analytics.
This took the portfolio up to 18 companies, with this expected to be up to 20 by the end of December, with agreements also made to acquire investments in a further two companies by the end of next month.