TLDR:
- Seraphim Space Ventures II has divested nine early-stage portfolio companies to focus on mature assets.
- The venture fund managed by Seraphim Space Manager acquired the nine holdings for a total consideration of £3.9m.
The Seraphim Space investment trust (SSIT) has sold nine early-stage portfolio companies to the investment adviser’s newly launched venture capital fund, Seraphim Space Ventures II. The venture fund, managed by Seraphim Space Manager, acquired the nine holdings for a total consideration of £3.9m. SSIT will receive an interest in the venture fund to settle the transaction. The early-stage portfolio comprises investments made by the trust since its IPO in July 2021, which were valued by independent agent Azets to be worth around £3.8m as of 31 December 2023 and adjusted for accrued loan interest for the three months of 2024.
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