Seraphim Space Investment Trust plc (LSE:SSIT) has reported a 102.9% increase in net asset value (NAV) per ordinary share to 240.49p for the financial year ended 30 June 2026, with its total investment portfolio valuation rising to £605.5 million.
The London-listed SpaceTech investment trust attributed the increase in portfolio value to fair value adjustments across its holdings, including valuation changes following financing rounds at portfolio companies such as ICEYE.
The total portfolio valuation more than doubled during the reporting period, reflecting changes in the assessed value of the trust’s investments, which are predominantly held in privately owned businesses.
Seraphim said demand for space-based defence, intelligence and communications technologies contributed to commercial and financing activity across its investment portfolio.
The trust also completed a C share issuance in May 2026, raising £136.5 million in additional capital.
Following the fundraising, Seraphim reported liquid resources of £152.9 million at the financial year-end, providing capital for investment activities and other funding requirements.
The portfolio’s aggregate valuation at 30 June 2026 represented 385.8% of its original investment cost, reflecting cumulative valuation gains across its holdings.
According to the company, several of its principal investments recorded revenue growth during the year, while some continued progressing towards earnings before interest, tax, depreciation and amortisation (EBITDA) profitability.
Seraphim also reported that companies within its investment portfolio raised more than US$4.8 billion in financing during the period.
The funding activity included capital raised through private investment rounds and public market transactions, providing additional resources for portfolio companies’ operations and development programmes.
Among the reported developments was HawkEye 360’s initial public offering on the New York Stock Exchange, which the trust described as oversubscribed.
Seraphim also highlighted commercial agreements and defence-related contracts secured by portfolio companies during the year, alongside operational milestones across its space technology investments.
The trust’s investment activities remain concentrated on companies developing satellite systems, space-based intelligence capabilities, communications infrastructure and data services.
Its portfolio includes businesses serving government, defence and commercial customers, with valuations influenced by financing transactions, operating performance and developments in their respective markets.
The reported NAV increase reflects fair value gains across the investment portfolio, rather than solely realised investment proceeds. As the portfolio consists predominantly of private companies, these valuations remain subject to changes in subsequent financing rounds and other valuation assessments.
Seraphim enters its new financial year with a portfolio valued at £605.5 million and liquid resources of £152.9 million, following the capital raised through its May share issuance.
About Seraphim Space Investment Trust plc
Seraphim Space Investment Trust plc (LSE:SSIT) is a London-listed investment trust specialising in companies operating within the global space technology sector.
The trust invests in private and publicly traded businesses developing technologies and services for satellite communications, defence, intelligence, Earth observation and space-based data applications.
Its portfolio includes companies providing infrastructure, software, analytical capabilities and related services to commercial organisations and government customers.
Seraphim focuses on investment opportunities across the SpaceTech industry, with returns dependent on changes in portfolio valuations, investment realisations and the financial performance of its underlying holdings.
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