Starry-eyed investors: Seraphim Space more than doubles portfolio value 12-months
Seraphim Space Investment Trust (SSIT) has more than doubled its portfolio value over the past year, as space tech continues to lure in investors.
The Trust’s portfolio valuation swelled more than 11 per cent to £207m in the three months to the end of September – more than double what it was 12-months ago.
Seraphim’s asset values have also continued to climb, rising 4.6 per cent since the previous quarter to £250m and representing a 13.5 per cent jump in comparison with a year prior.
The London-listed firm’s stock, however, has been dragged down by the global tech sell off.
Last month, CEO Mark Boggett told City A.M. that Seraphim had been tipped into the baskets of investors looking to sell all things tech.
Seraphim’s share price has halved over the past year, falling from £1.25 a piece to an average of 60p.
Alhough the rollout of investment appears unphased. Seraphim has invested a little under £9m in the period across three new and four follow-on investments.
In a statement today, chairman Will Whitehorn said: “Recent social and political upheaval, and its resultant effects upon the economy, have negatively impacted the valuations of technology stocks and SSIT has been no exception. Ironically, however, it is the core elements of this upheaval, including compromised global security, reduced availability of food and energy and exacerbated climate change, that SSIT’s portfolio companies specifically address.
“Governments are increasingly recognising this and allocating ever greater proportions of their budgets to the spacetech industry in which we exclusively invest. This is already having a beneficial effect on our portfolio companies which are the leaders in their respective fields. We therefore remain confident that over the long-term SSIT will deliver on its objective of generating capital growth.”