The Seraphim Space Fund is currently worth almost $63 million, with plans to grow its pool of venture capital to support European small, medium and start-up companies developing space-based applications, services and technologies.
The European Space Agency announced the fund Nov. 22.
“The fund offers a springboard for all space technology, emerging products, applications and associated services that have been developed with ESA’s help,” the agency said. “This includes software, hardware and integrated solutions for companies that use satellite data for a wide range of applications such as intelligent transport and smart cities, through to sectors including insurance, maritime, agriculture and oil and gas.”
The fund will accept applications from any ESA-supported project, many of which involve agency-incubated companies. ESA isn’t contributing to the fund but will recommend candidates and act as a funding facilitator.
The ESA has 22 members including Austria, Belgium, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Spain, Sweden, Switzerland and the U.K.