SSIT

Edison issues update on Seraphim Space Investment Trust (SSIT): Several key holdings funded to break-even

Retrieved on: 
Wednesday, April 10, 2024
Traction, IPO, SSIT, NAV, ETF, ICEYE

Seraphim Space Investment Trust (SSIT) reported a modest 1.8% NAV total return (TR) in H124, as the positive impact from up rounds (most notably D-Orbit’s) was partly offset by downward fair value adjustments of some other holdings due to technical setbacks or operational underperformance.

Key Points: 
  • Seraphim Space Investment Trust (SSIT) reported a modest 1.8% NAV total return (TR) in H124, as the positive impact from up rounds (most notably D-Orbit’s) was partly offset by downward fair value adjustments of some other holdings due to technical setbacks or operational underperformance.
  • However, we note that fund-raising across the spacetech sector remained robust in CY23.
  • Excluding the fully funded companies, the remaining portfolio has a fair value weighted average cash runway of 12 months, according to Seraphim Space.
  • Once IPO activity rebounds, this could provide SSIT’s major holdings the opportunity to list (though this seems more likely in CY25 rather than this year).

Edison issues update on Seraphim Space Investment Trust (SSIT): Spacetech enjoying sustained secular tailwinds

Retrieved on: 
Saturday, December 30, 2023
NAV, ETF, Investment, FX, SSIT, Security (finance)

Moreover, NAV/share rebounded by 3.9% in Q124, driven by FX gains and fair value uplifts on the back of new funding rounds (D-Orbit’s in particular).

Key Points: 
  • Moreover, NAV/share rebounded by 3.9% in Q124, driven by FX gains and fair value uplifts on the back of new funding rounds (D-Orbit’s in particular).
  • Both SSIT’s holding-level and portfolio-level liquidity look solid, with end-September cash of £29.7m (13% of NAV) and an average 18-month cash runway across its material holdings.
  • The executive team behind Seraphim Space (Seraphim), SSIT’s investment manager, is made up of pioneers in spacetech investments and the go-to partners for both spacetech businesses seeking funding and investors searching the sector for attractive private companies to invest in.
  • SSIT’s diverse portfolio is now available at a wide discount to NAV.

National Partnership for Child Safety Provides Year-End Updates on Collaborative Efforts to Improve Child Safety and Prevent Child Maltreatment Fatalities

Retrieved on: 
Thursday, December 28, 2023
University, LDS Family Services, Fatality, Workforce, Policy, Failure, Science, Partnership, Culture, Learning, Interview, Fear, Casey Family Programs, Gold, Doctor of Philosophy, Family, Heart, Human services, National Partnership, Growth, SSIT, Population health, Safety, Training, Work (human activity), Nursing

WASHINGTON , Dec. 28, 2023 /PRNewswire/ -- The National Partnership for Child Safety (NPCS), a quality improvement collaborative with a mission to improve child safety and prevent child maltreatment fatalities, provided its year end update on partnership activities related to strengthening families and promoting safety science and innovations in child welfare.

Key Points: 
  • WASHINGTON , Dec. 28, 2023 /PRNewswire/ -- The National Partnership for Child Safety (NPCS), a quality improvement collaborative with a mission to improve child safety and prevent child maltreatment fatalities, provided its year end update on partnership activities related to strengthening families and promoting safety science and innovations in child welfare.
  • The National Partnership for Child Safety shares efforts to support families & promote safety science in child welfare.
  • "Working together to integrate child safety approaches, we hope to reduce the number of child fatalities and near fatalities, decrease repeat maltreatment, improve workforce retention, and decrease racial inequities across child welfare systems."
  • Media Notes: To request an interview with a spokesperson for the National Partnership for Child Safety, please contact Jennifer Devlin at 703-966-3241 or [email protected] .

Seraphim Space Investment Trust (SSIT): High demand for space tech’s disruptive potential

Retrieved on: 
Saturday, September 16, 2023
Sierra Nevada Corporation, SpaceX, OHB, Climate change, SSIT, NAV, Acquisition, Security (finance), Cryptocurrency, Maxar Technologies

Seraphim Space Investment Trust (SSIT) has released its Q423 trading update to end-June 2023, reporting that its top 10 holdings saw their revenues (weighted by portfolio fair value) increasing by 32% year-on-year in the 12 months to end-June 2023, while bookings went up by a strong 188% over that period.

Key Points: 
  • Seraphim Space Investment Trust (SSIT) has released its Q423 trading update to end-June 2023, reporting that its top 10 holdings saw their revenues (weighted by portfolio fair value) increasing by 32% year-on-year in the 12 months to end-June 2023, while bookings went up by a strong 188% over that period.
  • We believe this illustrates the high interest in the disruptive potential of the offering of these early-stage businesses across key secular themes, such as global security and climate change.
  • However, the latter figure is distorted by large single transactions (eg SpaceX and Sierra Space), while the number of deals increased during the 12 months to end-June 2023.
  • Seraphim Space also notes the activity of private equity investors in the space tech industry, with Advent’s acquisition of Maxar and KKR’s takeover of OHB.