The latest offerings in investments, such as funds and structured products, and other notable developments.

Seraphim Space Investment Trust
Seraphim Space Investment Trust, a new closed-ended investment company targeting early- and growth-stage space technology firms, has raised £178.4 million ($247.6 million) in gross proceeds from an initial public offering.

The IPO was oversubscribed, beating the target of £150 million. As a result, applications were scaled back so that commitments under the capital raised equalled the £150 million target amount, the company said in a statement. 

The company intends, on or before 31 December, to buy stakes in four spacetech businesses.

The weekend space flight of Virgin entrepreneur Sir Richard Branson, and forthcoming space mission of Amazon founder Jeff Bezos are part of a commercial spacefaring trend that highlights space technology potential. Coupled with Elon Musk’s SpaceX rocket flights, and the burgeoning satellite market, spacetech is frequently frontpage news.

“Seraphim is the world’s number one investor in spacetech, a sector that to date has been driven by private capital. Our IPO on the Main Market of the London Stock Exchange gives investors unparalleled early access to companies that will shape a new economic revolution,” Will Whitehorn, chair of Seraphim Space Investment Trust plc, said.